Nifty is expected to open flat around the 22,900–22,950 zone, with the index currently near 22,950, indicating a cautiously positive short-term structure following the strong recovery from the 22,500–22,550 support region. The chart shows that buyers have gradually regained control at lower levels, pushing the index above the important 22,750 and 22,850 resistance levels, followed by a steady upward movement toward the 22,950 resistance zone. The recent formation of higher highs and higher lows suggests improving bullish momentum, but the index is now approaching an important resistance area where profit booking and selling pressure may emerge. The recent rally indicates strengthening buying interest, although a confirmed breakout above 22,950 is necessary to establish a stronger bullish trend. If Nifty manages to reclaim and sustain above 22,950, buying momentum could improve toward 23,050, while a decisive breakout above 23,050 could accelerate the recovery toward 23,150, 23,200 and 23,250+. Alternatively, if the index witnesses a temporary correction toward 22,750–22,800 and successfully defends this support zone, another recovery attempt toward 22,850, 22,900 and 22,950 could develop.
On the downside, if Nifty fails to sustain above 22,950 and faces rejection from the 22,950–23,000 resistance zone, selling pressure could return, pushing the index toward 22,850, 22,800 and 22,750. The 22,750 level remains an important immediate support, where buying interest or a temporary recovery may emerge. However, a decisive breakdown below 22,750 could trigger further weakness toward 22,650, 22,600 and 22,550. The recent strong recovery suggests that buyers are attempting to establish a positive short-term trend, but the resistance near 22,950 remains a crucial hurdle. With a flat opening expected near 22,950, Nifty may initially remain range-bound between 22,750 and 22,950, offering opportunities for disciplined range-based trading if support and resistance continue to hold. Traders should closely monitor whether 22,950–23,050 is breached on the upside or 22,750 breaks on the downside, as these levels are likely to determine the next significant intraday movement.
On the downside, if Nifty fails to sustain above 22,950 and faces rejection from the 22,950–23,000 resistance zone, selling pressure could return, pushing the index toward 22,850, 22,800 and 22,750. The 22,750 level remains an important immediate support, where buying interest or a temporary recovery may emerge. However, a decisive breakdown below 22,750 could trigger further weakness toward 22,650, 22,600 and 22,550. The recent strong recovery suggests that buyers are attempting to establish a positive short-term trend, but the resistance near 22,950 remains a crucial hurdle. With a flat opening expected near 22,950, Nifty may initially remain range-bound between 22,750 and 22,950, offering opportunities for disciplined range-based trading if support and resistance continue to hold. Traders should closely monitor whether 22,950–23,050 is breached on the upside or 22,750 breaks on the downside, as these levels are likely to determine the next significant intraday movement.
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📈 Trade Smarter with TradZoo!
📣 Telegram: t.me/tradzooIndex
📣 Forex Telegram: t.me/tradzoofx
📲 Mobile App: tradzoo.com/download
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🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📣 Forex Telegram: t.me/tradzoofx
📲 Mobile App: tradzoo.com/download
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🔗 Website: bit.ly/tradzoopage
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.