Market Update: Nifty Outlook
Today, amid news of an Indian Army operation, Nifty opened with a significant gap down but swiftly recovered, showing strong upward momentum.
Currently, the chart structure indicates the need for a higher low to set the stage for the next leg of the uptrend towards the 24,800–24,900 zone. A flat opening in the next session could provide the ideal setup for a strong rally.
Notably, a sustained move above 24,500 could trigger a "surgical strike" on call sellers positioned at the 24,800–24,900 levels, potentially leading to sharp short-covering.
We recommend closely tracking price behavior near key support areas for confirmation of the next move.
Today, amid news of an Indian Army operation, Nifty opened with a significant gap down but swiftly recovered, showing strong upward momentum.
Currently, the chart structure indicates the need for a higher low to set the stage for the next leg of the uptrend towards the 24,800–24,900 zone. A flat opening in the next session could provide the ideal setup for a strong rally.
Notably, a sustained move above 24,500 could trigger a "surgical strike" on call sellers positioned at the 24,800–24,900 levels, potentially leading to sharp short-covering.
We recommend closely tracking price behavior near key support areas for confirmation of the next move.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.