17/03/25

 

Key Observations:

  1. Strong Upward Movement at the Start:

    • A large green (bullish) candle is visible early in the session, indicating a sharp price increase.
    • This suggests strong buying interest at the opening.

  2. Pullback After Initial Rise:

    • After the sharp rise, the index faced resistance and started declining, forming a series of red (bearish) candles.
    • This indicates profit booking or selling pressure after the initial surge.

  3. Support and Recovery:

    • After a series of lower lows, the index found support around 22440 and started forming higher lows.
    • This suggests buyers stepped in, leading to a recovery.

  4. Sideways Consolidation:

    • After the recovery, the index moves within a narrow range around 22515, showing indecisiveness.
    • This could be a period of consolidation before a breakout.

Possible Trading Insights:

  • If NIFTY breaks above 22530, we could see further upside movement.
  • If NIFTY falls below 22480, selling pressure might increase.

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