Nifty forming a falling wedge

Nifty is currently forming a falling wedge pattern, with key support at 22,600. If this level holds and a bounce occurs, a breakout on the upside is likely, with 23,300 acting as a major resistance.

The crucial levels to watch are 22,600 on the downside and 23,300 on the upside. A breakdown below 22,600 with high volumes could trigger further selling, pushing Nifty towards 21,700–21,200. Conversely, a breakout above 23,300 with strong volumes and sustained momentum would signal the end of the correction. These levels will be decisive for Nifty’s next move.