This is the 4-hour timeframe chart of the Nifty 50.
The index is currently holding a strong support zone in the range of 22,150–22,400. Previously, Nifty has shown a sharp reversal from this zone, which led to an upside move towards 24,700–24,800.
Nifty has historically shown a tendency to decline around 6.25% during regular corrections. In case of a major bearish phase, the index has recorded falls of nearly 17%, and such a decline could again find support around the current zone.
If this support zone continues to hold, the ongoing pullback is likely to stabilize around the 24,400 level, potentially leading to another upward move.
Thank you.
The index is currently holding a strong support zone in the range of 22,150–22,400. Previously, Nifty has shown a sharp reversal from this zone, which led to an upside move towards 24,700–24,800.
Nifty has historically shown a tendency to decline around 6.25% during regular corrections. In case of a major bearish phase, the index has recorded falls of nearly 17%, and such a decline could again find support around the current zone.
If this support zone continues to hold, the ongoing pullback is likely to stabilize around the 24,400 level, potentially leading to another upward move.
Thank you.
@RahulSarawagi
Connect us at optionlab.co.in/
Connect us at optionlab.co.in/
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
@RahulSarawagi
Connect us at optionlab.co.in/
Connect us at optionlab.co.in/
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.