Nifty 50: Key Levels to Watch for Tomorrow’s Trading Session

5 Jan

Nifty 50 Index Analysis
Timeframe: 15-Minute Chart
Current Price: ₹23,990.15

Key Levels to Watch:
Resistance Zone:
Immediate resistance at ₹24,046. Targets are ₹24,148 (1st Target), ₹24,208 (2nd Target), and ₹24,309 (3rd Target).

Support Zone:
Immediate support at ₹23,927. A break below this level could lead to ₹23,788.

Bullish Scenario:
Buy above ₹24,046 with potential targets of ₹24,148, ₹24,208, and ₹24,309. The trendline and support zone near ₹23,927 provide a solid base for bullish momentum.

Bearish Scenario:
Sell below ₹23,927, targeting ₹23,788. A breakdown below the support zone and trendline could trigger bearish momentum.

Indicators:
RSI is showing weakness near 38, indicating a need for caution in the short term. MACD has a bearish crossover, signaling possible downside unless momentum strengthens.

Conclusion:
Watch for a breakout above ₹24,046 for bullish opportunities. Stay cautious below ₹23,927 as it may lead to further downside. Always plan trades with proper stop-losses to manage risk effectively.

Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.

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6 Jan

Trade aktif

Target done in downside