🟢 Nifty Analysis EOD – May 4, 2026 – Monday 🔴
Rejection at the Trendline: Bulls Reclaim 24,100 After a Wild 244-Point Slide.
🗞 Nifty Summary
The week started with a hopeful 58-point Gap Up, with Nifty opening above the Previous Day High (PDH).
Within the first minute, the index found immediate support at 24,060 and launched a confident 228-point northern run from the day’s low. This momentum carried the index to a test of the High-Timeframe (HTF) Trendline and the critical 24,310 resistance level. However, this supply zone proved too heavy, triggering a 150-point pushback.
After a long period of stagnation within a narrow 20-point box near the trendline, the structure finally snapped around 11:50 AM. What followed was a brutal 244-point liquidation from the swing high, which sliced through the Current Day Open (CDO), the PDH, the Initial Balance Low (IBL), and the Previous Day Close (PDC) to test the psychological 24,000 floor. Proving its importance, this level sparked a sharp 145-point V-shape recovery, allowing the index to reclaim the CDO and PDH. Nifty eventually settled at 24,123.80 (Adjusted Close: 24,119.30), gaining +121.75 points (+0.51%).
Technically, today was a “Typical Monday”—characterized by range-bound movements interspersed with high-velocity fakeouts. The long upper shadow on the daily candle serves as a stark reminder that the upper range is heavily guarded by sellers, and conquering the 24,333 barrier will remain a significant challenge for the bulls.
🛡 5 Min Intraday Chart with Levels
📉 Daily Time Frame Chart with Intraday Levels
🕯 Daily Candle Breakdown
Open: 24,063.55
High: 24,290.20
Low: 24,004.75
Close: 24,119.30
Change: +121.75 (+0.51 %)
🏗️ Structure Breakdown
Type: Bullish candle with a prominent upper shadow.
Range: ≈ 285 points — moderate to high intraday volatility.
Body: ≈ 56 points — relatively small real body, reflecting mild buying pressure after the round-trip.
Upper Wick: ≈ 171 points — Strong rejection and supply seated near the 24,310 resistance.
Lower Wick: ≈ 59 points — buying support defended the 24,000 base.
🛡 5 Min Intraday Chart
⚔️ Gladiator Strategy Update
ATR: 344.91
IB Range: 288.35 → Medium (Relative to ATR)
Market Structure: ImBalanced
Trade Highlights:
No Trade
Trade Summary: The system did not provide any high-conviction trade opportunities today. The combination of a large Initial Balance (IB) and the violent “seesaw” action between the 24,310 ceiling and the 24,000 floor made the risk-to-reward ratio unfavourable.
🧱 Support & Resistance Levels
Resistance Zones: 24,210 | 24,310 (Supply Wall) | 24,410
Support Zones: 24,050 | 23,985 | 23,910 | 23,800
🧠 Final Thoughts
“The longest shadows are cast where the resistance is strongest.”
The 24,210 ~ 24,310 zone has officially been designated as a “High Alert” zone where sellers are positioned in size. Conversely, the 23,910 ~ 23,860 zone remains the ultimate fort for the bulls.
For the upcoming sessions, I will be waiting for a decisive breach of either of these boundaries before forming a firm directional stance. Until then, I will be extremely selective and careful with entries, as the current volatility within the range is designed to trap the impatient.
✏️ Disclaimer
This is my personal digital diary and represents my own analysis and point of view. It is not financial advice; please consult a professional advisor before making any trading decisions.
Rejection at the Trendline: Bulls Reclaim 24,100 After a Wild 244-Point Slide.
🗞 Nifty Summary
The week started with a hopeful 58-point Gap Up, with Nifty opening above the Previous Day High (PDH).
Within the first minute, the index found immediate support at 24,060 and launched a confident 228-point northern run from the day’s low. This momentum carried the index to a test of the High-Timeframe (HTF) Trendline and the critical 24,310 resistance level. However, this supply zone proved too heavy, triggering a 150-point pushback.
After a long period of stagnation within a narrow 20-point box near the trendline, the structure finally snapped around 11:50 AM. What followed was a brutal 244-point liquidation from the swing high, which sliced through the Current Day Open (CDO), the PDH, the Initial Balance Low (IBL), and the Previous Day Close (PDC) to test the psychological 24,000 floor. Proving its importance, this level sparked a sharp 145-point V-shape recovery, allowing the index to reclaim the CDO and PDH. Nifty eventually settled at 24,123.80 (Adjusted Close: 24,119.30), gaining +121.75 points (+0.51%).
Technically, today was a “Typical Monday”—characterized by range-bound movements interspersed with high-velocity fakeouts. The long upper shadow on the daily candle serves as a stark reminder that the upper range is heavily guarded by sellers, and conquering the 24,333 barrier will remain a significant challenge for the bulls.
🛡 5 Min Intraday Chart with Levels
📉 Daily Time Frame Chart with Intraday Levels
🕯 Daily Candle Breakdown
Open: 24,063.55
High: 24,290.20
Low: 24,004.75
Close: 24,119.30
Change: +121.75 (+0.51 %)
🏗️ Structure Breakdown
Type: Bullish candle with a prominent upper shadow.
Range: ≈ 285 points — moderate to high intraday volatility.
Body: ≈ 56 points — relatively small real body, reflecting mild buying pressure after the round-trip.
Upper Wick: ≈ 171 points — Strong rejection and supply seated near the 24,310 resistance.
Lower Wick: ≈ 59 points — buying support defended the 24,000 base.
🛡 5 Min Intraday Chart
⚔️ Gladiator Strategy Update
ATR: 344.91
IB Range: 288.35 → Medium (Relative to ATR)
Market Structure: ImBalanced
Trade Highlights:
No Trade
Trade Summary: The system did not provide any high-conviction trade opportunities today. The combination of a large Initial Balance (IB) and the violent “seesaw” action between the 24,310 ceiling and the 24,000 floor made the risk-to-reward ratio unfavourable.
🧱 Support & Resistance Levels
Resistance Zones: 24,210 | 24,310 (Supply Wall) | 24,410
Support Zones: 24,050 | 23,985 | 23,910 | 23,800
🧠 Final Thoughts
“The longest shadows are cast where the resistance is strongest.”
The 24,210 ~ 24,310 zone has officially been designated as a “High Alert” zone where sellers are positioned in size. Conversely, the 23,910 ~ 23,860 zone remains the ultimate fort for the bulls.
For the upcoming sessions, I will be waiting for a decisive breach of either of these boundaries before forming a firm directional stance. Until then, I will be extremely selective and careful with entries, as the current volatility within the range is designed to trap the impatient.
✏️ Disclaimer
This is my personal digital diary and represents my own analysis and point of view. It is not financial advice; please consult a professional advisor before making any trading decisions.
Read my blogs here:
substack.com/@kzatakia
Follow me on Telegram:
t.me/swingtraderhub
Follow me on X:
x.com/kzatakia
substack.com/@kzatakia
Follow me on Telegram:
t.me/swingtraderhub
Follow me on X:
x.com/kzatakia
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
Read my blogs here:
substack.com/@kzatakia
Follow me on Telegram:
t.me/swingtraderhub
Follow me on X:
x.com/kzatakia
substack.com/@kzatakia
Follow me on Telegram:
t.me/swingtraderhub
Follow me on X:
x.com/kzatakia
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.