🟢 Nifty Analysis EOD – July 2, 2026 – Thursday 🔴
Megaphone Pattern: Nifty Stalls at 24,189 After 100-Point Range-Bound
🗞 Nifty Summary
Nifty opened with an 87-point gap up above PDH and the LTF trendline, found base just 17 points below the open, and then ran another 100 points to the upside within 30 minutes — breaking through the resistance zone of 24,075 ~ 24,125 smoothly to mark the high at 24,159.45 at that stage. Unable to hold up there, price slipped back 84 points and came down to CDO, where CDO held as support. For the next hour or so, Nifty stayed boxed inside a 30-point range. Price tested CDO once more, formed a Double Bottom, and moved up sharply toward 24,125, trying to clear this resistance — and that’s when a rare Megaphone pattern started building, one that stays active into the next session. Before the IBH breakout, price stayed stuck within 10-15 points for close to 40 minutes. Around 2:30 PM, the long-awaited IBH breakout finally came, but it faced rejection at 24,189.25 (previous swing high), and the day closed at 24,167.95, with adjusted closing at 24,175.70.
Most of the session played out inside the 100-point IB range, and even after the breakout, the total intraday range stayed within 135.75 points. I was watching for the previous day’s inside bar pattern target of 24,240 to get tapped — the gap-up open and that first 30-minute, 100-point move looked promising, but the day couldn’t quite capture the benefit of that setup.
🛡 5 Min Intraday Chart with Levels
📉 Daily Time Frame Chart with Intraday Levels
🕯 Daily Candle Breakdown
Open: 24,062.20
High: 24,194.55
Low: 24,058.80
Close: 24,175.70
Change: +169.85 (+0.71%)
🏗️ Structure Breakdown
Type: Strong Bullish — buyers stayed in control through most of the session
Range: ≈ 135.75 points — low volatility
Body: ≈ 113.50 points — steady buying pressure through the session
Upper Wick: ≈ 18.85 points — mild rejection near the highs, some supply showing up close to 24,189
Lower Wick: ≈ 3.40 points — barely any selling pressure, demand held close to the open
🛡 5 Min Intraday Chart
⚔️ Gladiator Strategy Update
ATR: 239.26
IB Range: 100.65 → Medium
Market Structure: ImBalanced
Trade Highlights:
11:06 Short Trade: Trailing SL Hit
12:14 Long Trade: Target Hit (R:R 1:3.06)
Trade Summary: Two trades today — the short at 11:06 gave back its gains as the trailing SL hit, while the long at 12:14 caught a clean target at R:R 1:3.06. Good to see the system lock in a solid R:R trade even inside this choppy, ImBalanced structure. Missed riding the IBH breakout follow-through though, stayed more a conservative trader on that second leg. Small win, no real damage — I’ll take that as a decent day for a learner like me.
🧱 Support & Resistance Levels
Resistance Zones: 24,189 | 24,235 ~ 24,285 | 24,335
Support Zones: 24,125 | 24,050 | 23,970
🧠 Final Thoughts
“Some walls don’t fall on the first push — they just remind you to wait for the second one.”
What stood out today was the Double Bottom at CDO holding up twice, and that Megaphone pattern building right as price pushed into 24,125. Doesn’t happen often, so I’m watching how it plays out.
If 24,189 gives way, 24,235 ~ 24,285 and then 24,335 could open up above. If 24,125 doesn’t hold, 24,050 and 23,970 come into play on the downside.
With the Megaphone still active, tomorrow might open with a bit more movement than usual, so staying patient on the first move feels like the right approach.
✏️ 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.
Megaphone Pattern: Nifty Stalls at 24,189 After 100-Point Range-Bound
🗞 Nifty Summary
Nifty opened with an 87-point gap up above PDH and the LTF trendline, found base just 17 points below the open, and then ran another 100 points to the upside within 30 minutes — breaking through the resistance zone of 24,075 ~ 24,125 smoothly to mark the high at 24,159.45 at that stage. Unable to hold up there, price slipped back 84 points and came down to CDO, where CDO held as support. For the next hour or so, Nifty stayed boxed inside a 30-point range. Price tested CDO once more, formed a Double Bottom, and moved up sharply toward 24,125, trying to clear this resistance — and that’s when a rare Megaphone pattern started building, one that stays active into the next session. Before the IBH breakout, price stayed stuck within 10-15 points for close to 40 minutes. Around 2:30 PM, the long-awaited IBH breakout finally came, but it faced rejection at 24,189.25 (previous swing high), and the day closed at 24,167.95, with adjusted closing at 24,175.70.
Most of the session played out inside the 100-point IB range, and even after the breakout, the total intraday range stayed within 135.75 points. I was watching for the previous day’s inside bar pattern target of 24,240 to get tapped — the gap-up open and that first 30-minute, 100-point move looked promising, but the day couldn’t quite capture the benefit of that setup.
🛡 5 Min Intraday Chart with Levels
📉 Daily Time Frame Chart with Intraday Levels
🕯 Daily Candle Breakdown
Open: 24,062.20
High: 24,194.55
Low: 24,058.80
Close: 24,175.70
Change: +169.85 (+0.71%)
🏗️ Structure Breakdown
Type: Strong Bullish — buyers stayed in control through most of the session
Range: ≈ 135.75 points — low volatility
Body: ≈ 113.50 points — steady buying pressure through the session
Upper Wick: ≈ 18.85 points — mild rejection near the highs, some supply showing up close to 24,189
Lower Wick: ≈ 3.40 points — barely any selling pressure, demand held close to the open
🛡 5 Min Intraday Chart
⚔️ Gladiator Strategy Update
ATR: 239.26
IB Range: 100.65 → Medium
Market Structure: ImBalanced
Trade Highlights:
11:06 Short Trade: Trailing SL Hit
12:14 Long Trade: Target Hit (R:R 1:3.06)
Trade Summary: Two trades today — the short at 11:06 gave back its gains as the trailing SL hit, while the long at 12:14 caught a clean target at R:R 1:3.06. Good to see the system lock in a solid R:R trade even inside this choppy, ImBalanced structure. Missed riding the IBH breakout follow-through though, stayed more a conservative trader on that second leg. Small win, no real damage — I’ll take that as a decent day for a learner like me.
🧱 Support & Resistance Levels
Resistance Zones: 24,189 | 24,235 ~ 24,285 | 24,335
Support Zones: 24,125 | 24,050 | 23,970
🧠 Final Thoughts
“Some walls don’t fall on the first push — they just remind you to wait for the second one.”
What stood out today was the Double Bottom at CDO holding up twice, and that Megaphone pattern building right as price pushed into 24,125. Doesn’t happen often, so I’m watching how it plays out.
If 24,189 gives way, 24,235 ~ 24,285 and then 24,335 could open up above. If 24,125 doesn’t hold, 24,050 and 23,970 come into play on the downside.
With the Megaphone still active, tomorrow might open with a bit more movement than usual, so staying patient on the first move feels like the right approach.
✏️ 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
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
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
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.