MIDCPNIFTY Breakdown – All Short Targets Hit on Risological

25 Okt 2024

MIDCPNIFTY 15m TimeFrame Technical Analysis:

In the 15-minute timeframe, MIDCPNIFTY has completed a powerful short trade, achieving all targets with consistent bearish pressure. The price has remained below the Risological dotted trendline, which acted as a strong resistance during the entire trade.

Key Levels:

• Entry: 13,053.70
  
• Stop Loss (SL): 13,139.35
  
• Target 1 (TP1): 12,947.85 (Done)
  
• Target 2 (TP2): 12,776.55 (Done)
  
• Target 3 (TP3): 12,605.25 (Done)
  
• Target 4 (TP4): 12,499.35 (Done)
  

Observations:

1. Price followed a steady downtrend with minimal pullbacks, respecting the Risological dotted trendline as resistance.
   
2. With strong bearish momentum, all targets were hit without any major retracement.
   

MIDCPNIFTY successfully met all its short targets, showing significant selling pressure. Traders should remain cautious for any signs of reversal or further downside as the trend matures.