Indeks Nifty 50
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NIFTY Technical Breakdown โ€“ Rising Wedge Pattern

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๐Ÿ”ป NIFTY Technical Breakdown โ€“ Rising Wedge Pattern

The Nifty 50 has broken down from a rising wedge pattern on the daily timeframe, a bearish reversal formation that often signals distribution at the top.

๐Ÿ“‰ Key Observations:


Rising wedge breakdown after extended rally

RSI bearish divergence confirming weakness

MACD crossover turning negative

Volume gradually decreasing during the rise, indicating exhaustion

ADX flattening, showing weakening trend strength


๐Ÿ“Œ Support Levels to Watch:

23,783 โ€“ Key swing support

22,798 โ€“ Previous breakout zone

๐Ÿ“Œ Sectoral Rotation:

Defensive sectors like Pharma & FMCG are gaining strength

FII selling pressure, rising DXY, and global uncertainty continue to weigh on sentiment

โš ๏ธ Outlook:
Caution warranted in the short term. Watch for sustained close below 24,900 for further downside confirmation. Macro and global cues to play a key role ahead.

๐Ÿ’ฌ Whatโ€™s your view on Nifty's near-term direction?

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