📊 Nifty Analysis for 06 March 2026 (Simple Chart Reading)
CMP: 24,765
Current Structure: Short-term recovery inside a broader downtrend
Market Mood: Cautious bounce after recent selling pressure
Nifty has shown a recovery bounce after the sharp decline earlier in the week. The daily structure still reflects a broader downtrend with lower highs, but the recent candles indicate a short-term demand response. Price is attempting to stabilise above the recent swing area near 24,600. Immediate resistance is positioned near 24,903, followed by 25,041 and 25,228 where earlier supply zones remain active. On the downside, immediate support is visible near 24,578, followed by 24,391 and then 24,254 which remains the stronger structural support area.
The projected CPR for the next session appears slightly higher than the previous day, indicating a mild positive bias in the short term. However, the CPR structure remains relatively narrow, which often indicates controlled movement rather than a strong directional trend. If price sustains above the CPR zone during the early session, buyers may attempt to push towards nearby resistance areas. If price trades below the CPR zone, the recovery move may weaken and selling pressure could reappear. Overall, the CPR zone may act as the key decision area for the session.
For intraday reference, support levels are 24,578, 24,391 and 24,254. Resistance levels are 24,903, 25,041 and 25,228. The immediate supply zone remains around 24,887–24,853 where the earlier breakdown occurred, while stronger supply remains positioned higher near 25,527–25,475 and 25,622–25,586.
If the market opens with a gap up within roughly 130–150 points, price may initially attempt to move towards the resistance region near 24,903. If buying momentum continues, the next possible extension may appear near 25,041. However, selling pressure may appear near these resistance zones, particularly around the supply band between 24,887 and 24,903. If price weakens after a gap-up opening, it may retrace towards 24,765 and then towards 24,578.
If the market opens with a gap down within about the same 130–150 point range, price may first test support near 24,578. If weakness continues, the next downside levels may appear near 24,391 and then 24,254. A bounce may develop from these support areas if buyers respond.
In case of a sideways session, price may oscillate between 24,578 and 24,903 as the immediate range. A wider range may extend between 24,391 and 25,041 if volatility expands.
Options positioning provides an additional structural context. The options open interest distribution shows strong call concentration near 25,000, 25,300 and especially 25,500, indicating that these levels may act as overhead supply zones if the index attempts to move higher. On the downside, significant put open interest is visible near 24,500 and 24,600 with additional positioning around 24,300, suggesting that these levels may act as defensive support areas where buyers may attempt to stabilise the market. This derivatives positioning broadly aligns with the chart structure, where resistance clusters appear above 25,000 while demand remains active in the 24,500–24,300 region.
From a broader observation perspective, if weakness expands further on the downside, the next possible observation zones may appear near 24,200, followed by 24,000 and then around 23,800 where deeper support reactions may develop. On the upside, if the market regains strength and sustains above resistance clusters, the next observation zones may appear near 25,000, followed by 25,200 and then around 25,500 where stronger supply participation may emerge.
Overall, the larger structure remains cautious below 25,041–25,228. Immediate support lies near 24,578–24,391, while stronger resistance zones remain positioned above 24,903. The early part of the session may indicate whether the current bounce develops further or whether the broader downtrend resumes.
STWP View: The market is attempting a short-term recovery but remains structurally weak below the higher resistance band. Sustaining above 24,903 may improve the upside structure, while a move below 24,578 may again invite selling pressure.
⚠️ Disclaimer
This post is intended solely for educational and informational purposes. It does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. Market investments are subject to risk. Please consult a SEBI-registered financial advisor before making any investment decisions.
CMP: 24,765
Current Structure: Short-term recovery inside a broader downtrend
Market Mood: Cautious bounce after recent selling pressure
Nifty has shown a recovery bounce after the sharp decline earlier in the week. The daily structure still reflects a broader downtrend with lower highs, but the recent candles indicate a short-term demand response. Price is attempting to stabilise above the recent swing area near 24,600. Immediate resistance is positioned near 24,903, followed by 25,041 and 25,228 where earlier supply zones remain active. On the downside, immediate support is visible near 24,578, followed by 24,391 and then 24,254 which remains the stronger structural support area.
The projected CPR for the next session appears slightly higher than the previous day, indicating a mild positive bias in the short term. However, the CPR structure remains relatively narrow, which often indicates controlled movement rather than a strong directional trend. If price sustains above the CPR zone during the early session, buyers may attempt to push towards nearby resistance areas. If price trades below the CPR zone, the recovery move may weaken and selling pressure could reappear. Overall, the CPR zone may act as the key decision area for the session.
For intraday reference, support levels are 24,578, 24,391 and 24,254. Resistance levels are 24,903, 25,041 and 25,228. The immediate supply zone remains around 24,887–24,853 where the earlier breakdown occurred, while stronger supply remains positioned higher near 25,527–25,475 and 25,622–25,586.
If the market opens with a gap up within roughly 130–150 points, price may initially attempt to move towards the resistance region near 24,903. If buying momentum continues, the next possible extension may appear near 25,041. However, selling pressure may appear near these resistance zones, particularly around the supply band between 24,887 and 24,903. If price weakens after a gap-up opening, it may retrace towards 24,765 and then towards 24,578.
If the market opens with a gap down within about the same 130–150 point range, price may first test support near 24,578. If weakness continues, the next downside levels may appear near 24,391 and then 24,254. A bounce may develop from these support areas if buyers respond.
In case of a sideways session, price may oscillate between 24,578 and 24,903 as the immediate range. A wider range may extend between 24,391 and 25,041 if volatility expands.
Options positioning provides an additional structural context. The options open interest distribution shows strong call concentration near 25,000, 25,300 and especially 25,500, indicating that these levels may act as overhead supply zones if the index attempts to move higher. On the downside, significant put open interest is visible near 24,500 and 24,600 with additional positioning around 24,300, suggesting that these levels may act as defensive support areas where buyers may attempt to stabilise the market. This derivatives positioning broadly aligns with the chart structure, where resistance clusters appear above 25,000 while demand remains active in the 24,500–24,300 region.
From a broader observation perspective, if weakness expands further on the downside, the next possible observation zones may appear near 24,200, followed by 24,000 and then around 23,800 where deeper support reactions may develop. On the upside, if the market regains strength and sustains above resistance clusters, the next observation zones may appear near 25,000, followed by 25,200 and then around 25,500 where stronger supply participation may emerge.
Overall, the larger structure remains cautious below 25,041–25,228. Immediate support lies near 24,578–24,391, while stronger resistance zones remain positioned above 24,903. The early part of the session may indicate whether the current bounce develops further or whether the broader downtrend resumes.
STWP View: The market is attempting a short-term recovery but remains structurally weak below the higher resistance band. Sustaining above 24,903 may improve the upside structure, while a move below 24,578 may again invite selling pressure.
⚠️ Disclaimer
This post is intended solely for educational and informational purposes. It does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. Market investments are subject to risk. Please consult a SEBI-registered financial advisor before making any investment decisions.
STWP | Mentor & Demand-Supply Specialist |
Empowering traders through structured learning |
simpletradewithpatience.com
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Empowering traders through structured learning |
simpletradewithpatience.com
Community: chat.whatsapp.com/BEYz0tkqP0fJPBCWf59uel
wa.me/message/6IOPHGOXMGZ4N1
Educational Only
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La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
STWP | Mentor & Demand-Supply Specialist |
Empowering traders through structured learning |
simpletradewithpatience.com
Community: chat.whatsapp.com/BEYz0tkqP0fJPBCWf59uel
wa.me/message/6IOPHGOXMGZ4N1
Educational Only
Empowering traders through structured learning |
simpletradewithpatience.com
Community: chat.whatsapp.com/BEYz0tkqP0fJPBCWf59uel
wa.me/message/6IOPHGOXMGZ4N1
Educational Only
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.