Probable Scenario Analysis of Nifty 50 for the 08th of July, 2026. The day is Wednesday.
🟢 Bullish Scenario
There is no observable setup for bullish trades. Be bullish only if the price sustains above the level of 24500. The probable bullish targets above 24500 would be - 24550 and 24600.
🔴 Bearish Scenario
Stay bearish if the price remains below the level of 24400. The probable bearish targets below the level of 24400 would be - 24350, 24300, and 24250. The price would receive good support at 24250, as an unfilled gap at 24271 would be filled. Next, if the price breaks down below 24250, then the probable bearish targets would be - 24200 and 24150. There is another unfilled gap at 24167.
🟡 No Trading Zone (NTZ): (24500 - 24400).
⏺ Range of Consolidation (ROC): (24500 - 24300).
Here, 24400 is the median of ROC. The median works like a sentiment. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment.
● Event
This week (06th to 10th July), there is one high-impact event (the U.S. FOMC minutes). The event is on Wednesday, 08th of July. Thus, today is the high-impact day. FOMC meeting is at 11:30 PM IST (night). Our markets will be closed. Also, tomorrow is the SENSEX weekly expiry.
● Intraday Bias
Establish intraday bias with respect to the opening price. 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!
🟢 Bullish Scenario
There is no observable setup for bullish trades. Be bullish only if the price sustains above the level of 24500. The probable bullish targets above 24500 would be - 24550 and 24600.
🔴 Bearish Scenario
Stay bearish if the price remains below the level of 24400. The probable bearish targets below the level of 24400 would be - 24350, 24300, and 24250. The price would receive good support at 24250, as an unfilled gap at 24271 would be filled. Next, if the price breaks down below 24250, then the probable bearish targets would be - 24200 and 24150. There is another unfilled gap at 24167.
🟡 No Trading Zone (NTZ): (24500 - 24400).
⏺ Range of Consolidation (ROC): (24500 - 24300).
Here, 24400 is the median of ROC. The median works like a sentiment. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment.
● Event
This week (06th to 10th July), there is one high-impact event (the U.S. FOMC minutes). The event is on Wednesday, 08th of July. Thus, today is the high-impact day. FOMC meeting is at 11:30 PM IST (night). Our markets will be closed. Also, tomorrow is the SENSEX weekly expiry.
● Intraday Bias
Establish intraday bias with respect to the opening price. 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!
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.
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.