Nifty 50 Approaching Resistance Zone – Potential Reversal Ahead?

Chart Timeframe & Context

Index: Nifty 50 (NSE)

Timeframe: 30-minute chart

Date/Time: June 26, 2025

Current Price: ₹25,530.40

Change: -11.70 (-0.05%)



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🧩 Key Observations

1. Rising Wedge / Ascending Channel

The current price action is within an ascending channel, which typically suggests bullish momentum.

However, a bearish red arrow is drawn, indicating potential for a reversal after reaching the upper boundary.

The price is nearing channel resistance and a horizontal resistance zone (around ₹25,550–₹25,600), suggesting exhaustion.


2. Historical Consolidation Patterns

Multiple triangle and wedge formations have been marked previously:

Green triangle zones show accumulation/consolidation before breakouts.

These are generally bullish continuation patterns, which played out successfully.


The breakouts from these zones led to significant upward movement.


3. Support Zones

Major support lies near ₹24,400–₹24,600 (highlighted green box).

Another minor horizontal support appears around ₹25,000–₹25,100.

Rising trendlines from previous lows also intersect near this region, acting as confluence support.



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🔄 Potential Scenarios

📉 Bearish Case (Likely Based on Chart Indication):

Price hits resistance zone (~₹25,600) and reverses as suggested by the red arrow.

Possible pullback targets:

₹25,100 (minor support)

₹24,800 (trendline and horizontal confluence)

₹24,400 (major support zone)