NIFTY 50 FUTURE (2H) Technical Analysis

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Current Structure

Strong impulsive rally completed into Wave (3) near 24,390–24,420
Current pullback is retesting the 0.5–0.618 Fibonacci retracement zone
Important retracement support marked:
0.5 = 24,012
0.618 = 24,102
Price is currently holding around 24,143, which is still inside the healthy pullback zone

This suggests Wave 4 is forming a controlled correction, not a reversal.

Bullish Scenario

As long as price holds above the invalidation zone, this setup strongly favors Wave 5 upside continuation.

Upside Targets

Projected targets from your chart:

24,390–24,417 → immediate resistance retest
24,768–24,786 → major Wave 5 target zone
24,900+ → extended bullish momentum zone

This is where smart money typically pushes after a Wave 4 correction.

Invalidation Level

The most important support is:

24,000–24,012

If price closes below this zone on 2H, the Wave 5 setup weakens.

A deeper correction may then test:

23,850
23,700
Trade Setup

Buy on dips: 24,100–24,150
SL: below 24,000
Targets: 24,420 / 24,780 / 24,900

Risk-reward here looks very strong if support holds 🎯

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