NIFTY 50 Intraday 06 JUN| Breakout or Breakdown Scenario

6 Jun

NIFTY – Key Levels Setup | Breakout or Breakdown Scenario

According to the price action observed at session start , NIFTY is currently consolidating between the resistance at 24,736 and the support at 24,711 . The structure suggests price is coiling, and a decisive move beyond either level could trigger a directional breakout.

• Key Levels:
Resistance: 24,736
Support: 24,711


• Breakout Scenario:
If price breaks and sustains above 24,736 :
TP1 (1:1): 24,761
TP2 (1:2): 24,786
TP3 (1:3): 24,811

• Breakdown Scenario:
If price breaks and sustains below 24,711 :
TP1 (1:1): 24,686
TP2 (1:2): 24,661
TP3 (1:3): 24,636

"Stay neutral, stay ready. Let the chart pick the direction."

Information and analysis provided is for educational purposes only.

6 Jun

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🔹 NIFTY 50 – Intraday Summary | 06 JUN 2025
Closing: 25,000.30 (+252.15 / +1.02%)
Day High: 25,029.50
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📈 Market Recap:
Today’s market action in NIFTY was marked by strong bullish momentum, but not without early volatility.

• Price initially broke below the key support of 24,711, hitting Target 1 (24,686) on the downside – suggesting a breakdown.
• However, the move was quickly reversed as NIFTY reclaimed the range, breaking above 24,736 to activate the breakout setup.
• All three breakout targets were achieved swiftly:

🎯 TP1: ✅ 24,761
🎯 TP2: ✅ 24,786
🎯 TP3: ✅ 24,811

After achieving all upside levels, price briefly retraced to retest the original resistance-turned-support zone (24,711–24,736) and successfully held that area — launching into a powerful rally.
NIFTY continued to climb steadily, closing near the psychological 25,000 mark, confirming strong intraday bullish sentiment.

The move reflected expanding price action outside the tight consolidation zone, showing improved directional clarity post-expiry and renewed buying strength.


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🧠 Key Takeaway:
“A textbook example of range resolution followed by momentum expansion.”
Price respected levels well, despite early fakeout signs — reminding traders why patience and disciplined reaction to confirmations is essential.