Last week’s idea flagged the Weekly 200 EMA / 1.0 Fib confluence near 22,182 as a major support zone, with a step-by-step recovery path above it. That’s exactly what’s played out: this week’s low was 22,179.90 — a near-perfect test of that exact level — before buyers stepped in, pushing price as high as 22,776.10.
A doji at a key level:
Despite that wide 600-point swing, Nifty closed the week at 22,520.45, just 12 points above its open of 22,532.40 — forming a doji candle. A doji this small, after such a dramatic test of major support and a sharp rally off it, signals indecision: both buyers and sellers pushed hard, but neither side could hold control into the close. It’s not a confirmed reversal yet — it’s a pause right at a decision point.
What this confirms:
The Weekly 200 EMA held on the first real test — a meaningful technical signal after such a sharp multi-week decline. But the doji means the market hasn’t fully committed to a direction yet.
In simple terms:
Think of last week as the “test” and this week as the “response” — but a hesitant one. Buyers defended the floor and pushed price up toward the next ceiling at 22,776, then pulled back to close almost flat. A doji here means the market is holding its breath before the next move.
Two-Way Scenario:
Bullish Scenario (continuation):
Trigger: Reclaim and hold above 22,776
Target 1: 23,070 (prior Major Support, now resistance)
Target 2: 23,282
Invalidation: A fresh break back below 22,182 would undo this recovery
Bearish Scenario (rejection):
Trigger: Sustained rejection from 22,776 with price falling back below 22,480–22,560
This would suggest the bounce is running out of steam before clearing real resistance
Next support to watch: 22,182 (retest of the Weekly 200 EMA zone), and below that, 22,000 (psychological support)
Bottom line:
The Weekly 200 EMA did its job as support, but this week’s doji shows the market is undecided about what comes next. 22,776 is the level that breaks the tie — a clean move above confirms buyers are back in control; a rejection from here, with a slide back below 22,182, would reopen the downside case.
This is for educational purposes only and not investment advice. Please do your own research or consult a financial advisor before making trading decisions.
A doji at a key level:
Despite that wide 600-point swing, Nifty closed the week at 22,520.45, just 12 points above its open of 22,532.40 — forming a doji candle. A doji this small, after such a dramatic test of major support and a sharp rally off it, signals indecision: both buyers and sellers pushed hard, but neither side could hold control into the close. It’s not a confirmed reversal yet — it’s a pause right at a decision point.
What this confirms:
The Weekly 200 EMA held on the first real test — a meaningful technical signal after such a sharp multi-week decline. But the doji means the market hasn’t fully committed to a direction yet.
In simple terms:
Think of last week as the “test” and this week as the “response” — but a hesitant one. Buyers defended the floor and pushed price up toward the next ceiling at 22,776, then pulled back to close almost flat. A doji here means the market is holding its breath before the next move.
Two-Way Scenario:
Bullish Scenario (continuation):
Trigger: Reclaim and hold above 22,776
Target 1: 23,070 (prior Major Support, now resistance)
Target 2: 23,282
Invalidation: A fresh break back below 22,182 would undo this recovery
Bearish Scenario (rejection):
Trigger: Sustained rejection from 22,776 with price falling back below 22,480–22,560
This would suggest the bounce is running out of steam before clearing real resistance
Next support to watch: 22,182 (retest of the Weekly 200 EMA zone), and below that, 22,000 (psychological support)
Bottom line:
The Weekly 200 EMA did its job as support, but this week’s doji shows the market is undecided about what comes next. 22,776 is the level that breaks the tie — a clean move above confirms buyers are back in control; a rejection from here, with a slide back below 22,182, would reopen the downside case.
This is for educational purposes only and not investment advice. Please do your own research or consult a financial advisor before making trading decisions.
Trade closed: target reached
Target 1 Achieved ✅, Target 2 ApproachingThe original thesis flagged a doji at the Weekly 200 EMA after a sharp test of the 22,182 support zone, with the bullish scenario needing a reclaim above 22,776 to open the path toward Target 1 (23,070) and Target 2 (23,282).
That’s exactly what’s played out. Nifty cleared 22,776, confirming buyers had regained control, and has since rallied to a weekly high of 23,149.85, clearing Target 1 (23,070) with room to spare. Target 2 (23,282) is close but not yet tagged.
What’s next
With Target 1 achieved, focus now shifts to whether Nifty can extend to Target 2 (23,282) and beyond toward the resistance ladder (23,489, 23,593, 23,890) covered in more recent updates. A pullback that holds above 23,070 would keep this recovery structure intact.
Closing this update here.
📈 HK Trading Community | Market Structure & Indicator Updates
Telegram: t.me/trendstrike1000
Website: quantumedgepro.netlify.app/
Real traders are built through learning,not tip hunting.So Start Learning How the Market Really Works
Telegram: t.me/trendstrike1000
Website: quantumedgepro.netlify.app/
Real traders are built through learning,not tip hunting.So Start Learning How the Market Really Works
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 HK Trading Community | Market Structure & Indicator Updates
Telegram: t.me/trendstrike1000
Website: quantumedgepro.netlify.app/
Real traders are built through learning,not tip hunting.So Start Learning How the Market Really Works
Telegram: t.me/trendstrike1000
Website: quantumedgepro.netlify.app/
Real traders are built through learning,not tip hunting.So Start Learning How the Market Really Works
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.