Our observation aligns well with the earlier analysis. The time cycle highlighted July 29 as a potential inflection point, and the strong short covering during the monthly expiry has clearly supported the 200+ point bounce today.
With NIFTY closing at 24,820, if it manages to cross the 24,850 level tomorrow, the path to 25,000 and possibly higher resistance levels should open up, signaling a stronger recovery.
Keep watching key supports around 24,700 as the base; sustained momentum above 24,850 will be crucial to confirm the bullish reversal. Stay nimble and monitor volumes and global cues for confirmation.
With NIFTY closing at 24,820, if it manages to cross the 24,850 level tomorrow, the path to 25,000 and possibly higher resistance levels should open up, signaling a stronger recovery.
Keep watching key supports around 24,700 as the base; sustained momentum above 24,850 will be crucial to confirm the bullish reversal. Stay nimble and monitor volumes and global cues for confirmation.
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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.