NIFTY Index Technical Analysis (Daily)

📊 NIFTY Index Technical Analysis (Daily) – June 4, 2025

Current Price: ₹24,583.90
Change: +₹41.40 (+0.17%)

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🔍 Key Technical Highlights:

Rising Channel Breakdown: Nifty has broken below the rising channel, suggesting a short-term correction may be underway.

Immediate Support Zone: Blue box area near ₹23,850 (PE Target) is key — likely to act as the first demand zone.

Strong Buy Zone: If the decline continues, ₹23,000–23,200 is marked as a major accumulation zone, where long positions can be considered.

🧭 Price Outlook:

If the price respects the ₹23,850 zone, we may see a bullish bounce and trend continuation.

A breakdown below the blue zone may lead price toward the strong buy zone before any reversal.

💡 Trade Plan Idea:

Watch ₹23,850: Potential bounce area for aggressive bulls.

Wait for Reversal Signals at the lower strong demand zone for a safer entry.