#NIFTY50 - 24TH DECEMBER !!
NIFTY NIFTY CHART ANALYSIS (24TH DEC)
Important Levels:
1. Resistance Levels:
- 24,259.50: Key resistance zone where selling pressure might build.
- 23,926.95: Immediate resistance near the current price.
2. Support Levels:
- 23,398.85: Major support level below the current price where buyers could step in.
3. Trendline:
- A downward trendline acts as dynamic resistance, connecting lower highs and reinforcing the bearish momentum.
Analysis:
- The price is in a bearish trend, consistently making lower highs and lower lows.
- Current Scenario: The price is near the trendline and could face rejection, continuing the downward move toward 23,398.85.
- Alternative Scenario: A breakout above the trendline might invalidate the bearish setup, potentially leading to a test of 23,926.95 or higher.
Only for educational purposes.
This content is not a recommendation to buy and sell.
Not SEBI REGISTRAR.
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