NIFTY Technical Analysis – March 21, 2025

Current Market Structure:

NIFTY is currently positioned at the upper boundary of a parallel channel.

A reversal from this point could indicate a downward movement within the channel.

The next significant support is around 21,500 levels, marking the first potential stop (SOTP).

If bearish momentum continues, the lower parallel channel support is at 20,500.

Trend Analysis:

The market appears to be forming lower highs and lower lows, confirming a descending channel.

Any break below 21,500 may lead to further downside pressure towards 20,500.

A break above the upper channel could invalidate the bearish scenario and signal further upside.

Key Levels to Watch:

Resistance: 23,500 – 23,800 (Upper channel boundary)

Support 1: 21,500 (Intermediate support)

Support 2: 20,500 (Major channel support)

Trading Strategy:

Bearish Scenario: If NIFTY starts declining from the current level.

Bullish Scenario: If NIFTY breaks and sustains above the upper trendline,



Disclaimer:
This analysis is for informational purposes only and should not be considered as financial advice. Trading involves risk, and past performance does not guarantee future results. Always consult with a financial advisor before making any trading or investment decisions.