NIfty Spot Weekly DOJI

660
The price recently suffered a severe bearish flush that aggressively broke through the primary ascending trendline.

This liquidation spike found precise historical support at the secondary lower channel line near 21,721.90.

Following this exhaustion bottom, a strong V-shaped recovery materialized, driving the price back inside the primary structure. This rapid reclaim invalidates the initial breakdown, identifying it as a textbook "bear trap" designed to wash out leveraged longs.

Local Trajectory & Key LevelsCurrently, the asset is experiencing a short-term bullish consolidation, pressing upward toward the apex of the larger triangle structure.

The immediate price is hovering near 24,570.65, showing a minor localized retracement after testing the overhead resistance cluster.

To sustain this upward momentum, buyers must secure a clean breakout above the macro descending resistance line, currently intersecting around 24,774.30 and 25,220.50. Failure to clear this upper boundary will likely trigger a rejection, sending the price back down to retest the localized horizontal support levels mapped between 24,328.10 and 23,606.30.

For the week Aug 10-14 (2026)
24642.00 will be KEY MAKE or BREAK LEVEL.


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