Probable Price Structure and Scenario Analysis for the Nifty 50 
NIFTY Index.
🟢 Bullish Scenario
Presently, there is no bullish scenario. Firstly, for a bullish setup, the price must form a higher-highs and lower-lows (HHs and LLs) structure above 24500. Then it needs to decisively break out above 24600. In this case, a bullish scenario would emerge. The probable confident Bullish targets above 24600 would be - 24700 and 24800.
🔴 Bearish Scenario
Presently, the price is in a bearish zone. Every up move should be doubted. The market structure is bearish. However, there is a strong support zone (SSZ) at (24250 - 24200). For a confident bearish setup, the price needs to form a lower-lows and lower-highs (LLs and LHs) structure below 24300 and decisively break down below 24200. In this case, a confident bearish scenario would emerge. The probable bearish targets below 24200 would be - 24100 and 24000.
🟡 No Trading Zone (NTZ): (24500 - 24300).
⏺ Range of Consolidation (ROC): (24600 - 24200).
Here, 24400 is the median of the ROC. The median works like a trading session sentiment evaluator. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment within the ROC.
● Event
There is no major event or holiday. But geopolitical issues are omnipresent and beyond our control.
● Intraday, Weekly, and Monthly Bias
Establish bias with respect to the opening price (of the particular session - Intraday, Weekly, and Monthly). If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Disclaimer + End Note
- All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
- Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
- Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
- Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
- Be Strategic. Be Courageous. Be Patient. Be Wise.
- Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
- Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
NIFTY Index. 🟢 Bullish Scenario
Presently, there is no bullish scenario. Firstly, for a bullish setup, the price must form a higher-highs and lower-lows (HHs and LLs) structure above 24500. Then it needs to decisively break out above 24600. In this case, a bullish scenario would emerge. The probable confident Bullish targets above 24600 would be - 24700 and 24800.
🔴 Bearish Scenario
Presently, the price is in a bearish zone. Every up move should be doubted. The market structure is bearish. However, there is a strong support zone (SSZ) at (24250 - 24200). For a confident bearish setup, the price needs to form a lower-lows and lower-highs (LLs and LHs) structure below 24300 and decisively break down below 24200. In this case, a confident bearish scenario would emerge. The probable bearish targets below 24200 would be - 24100 and 24000.
🟡 No Trading Zone (NTZ): (24500 - 24300).
⏺ Range of Consolidation (ROC): (24600 - 24200).
Here, 24400 is the median of the ROC. The median works like a trading session sentiment evaluator. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment within the ROC.
● Event
There is no major event or holiday. But geopolitical issues are omnipresent and beyond our control.
● Intraday, Weekly, and Monthly Bias
Establish bias with respect to the opening price (of the particular session - Intraday, Weekly, and Monthly). If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Disclaimer + End Note
- All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
- Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
- Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
- Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
- Be Strategic. Be Courageous. Be Patient. Be Wise.
- Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
- Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
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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.
Publicaciones relacionadas
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.