NIFTY has recovered strongly from the 22,411 support area and is now trading around 22,743. The 15M chart shows bullish momentum, with price forming a recovery structure after the recent downside move.
I'm watching whether NIFTY can sustain this momentum and continue toward the marked resistance and target levels.
Key Levels
- Current Price: Around 22,743
- LONG/CALL Level: 22,726.35
- Re-entry Zone: Around 22,585–22,593
- S.L: 22,481.60
- Major Support: 22,411.70
- Resistance: 23,179.75
- Target: 23,472.05
Market Structure
NIFTY has bounced from the 22,411.70 support area and is showing a stronger recovery on the lower timeframes. Price has reclaimed the 22,726.35 level, and I'm watching whether it can hold above this area to maintain the current bullish momentum.
If price continues to hold above the LONG/CALL level, the next important step is to sustain the recovery and work toward the higher resistance around 23,179.75. A successful breakout above that resistance could open the way toward the 23,472.05 target.
If price pulls back, I'm watching the marked re-entry zone around 22,585–22,593 for a potential reaction. However, if NIFTY loses 22,481.60, the current bullish setup weakens. A break below 22,411.70 would further damage the recovery structure.
My Overall View
For now, NIFTY is showing bullish recovery momentum, and I'm watching whether price can hold above 22,726.35.
If the current level holds, I'll watch for continuation toward 23,179.75 and potentially 23,472.05. If price pulls back, I'll monitor the re-entry zone around 22,585–22,593 rather than chase the move.
The key is to see whether buyers can sustain the recovery. I'll follow the marked levels and let price confirm the next move.
I'm watching whether NIFTY can sustain this momentum and continue toward the marked resistance and target levels.
Key Levels
- Current Price: Around 22,743
- LONG/CALL Level: 22,726.35
- Re-entry Zone: Around 22,585–22,593
- S.L: 22,481.60
- Major Support: 22,411.70
- Resistance: 23,179.75
- Target: 23,472.05
Market Structure
NIFTY has bounced from the 22,411.70 support area and is showing a stronger recovery on the lower timeframes. Price has reclaimed the 22,726.35 level, and I'm watching whether it can hold above this area to maintain the current bullish momentum.
If price continues to hold above the LONG/CALL level, the next important step is to sustain the recovery and work toward the higher resistance around 23,179.75. A successful breakout above that resistance could open the way toward the 23,472.05 target.
If price pulls back, I'm watching the marked re-entry zone around 22,585–22,593 for a potential reaction. However, if NIFTY loses 22,481.60, the current bullish setup weakens. A break below 22,411.70 would further damage the recovery structure.
My Overall View
For now, NIFTY is showing bullish recovery momentum, and I'm watching whether price can hold above 22,726.35.
If the current level holds, I'll watch for continuation toward 23,179.75 and potentially 23,472.05. If price pulls back, I'll monitor the re-entry zone around 22,585–22,593 rather than chase the move.
The key is to see whether buyers can sustain the recovery. I'll follow the marked levels and let price confirm the next move.
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.