🔻 NIFTY Technical Breakdown – Rising Wedge Pattern
The Nifty 50 has broken down from a rising wedge pattern on the daily timeframe, a bearish reversal formation that often signals distribution at the top.
📉 Key Observations:
Rising wedge breakdown after extended rally
RSI bearish divergence confirming weakness
MACD crossover turning negative
Volume gradually decreasing during the rise, indicating exhaustion
ADX flattening, showing weakening trend strength
📌 Support Levels to Watch:
23,783 – Key swing support
22,798 – Previous breakout zone
📌 Sectoral Rotation:
Defensive sectors like Pharma & FMCG are gaining strength
FII selling pressure, rising DXY, and global uncertainty continue to weigh on sentiment
⚠️ Outlook:
Caution warranted in the short term. Watch for sustained close below 24,900 for further downside confirmation. Macro and global cues to play a key role ahead.
💬 What’s your view on Nifty's near-term direction?
#Nifty50 #TechnicalAnalysis #RisingWedge #MarketOutlook #TradingView #ChartStudy #IndiaMarkets #BearishSetup #NiftyBreakdown #Puneet0130
The Nifty 50 has broken down from a rising wedge pattern on the daily timeframe, a bearish reversal formation that often signals distribution at the top.
📉 Key Observations:
Rising wedge breakdown after extended rally
RSI bearish divergence confirming weakness
MACD crossover turning negative
Volume gradually decreasing during the rise, indicating exhaustion
ADX flattening, showing weakening trend strength
📌 Support Levels to Watch:
23,783 – Key swing support
22,798 – Previous breakout zone
📌 Sectoral Rotation:
Defensive sectors like Pharma & FMCG are gaining strength
FII selling pressure, rising DXY, and global uncertainty continue to weigh on sentiment
⚠️ Outlook:
Caution warranted in the short term. Watch for sustained close below 24,900 for further downside confirmation. Macro and global cues to play a key role ahead.
💬 What’s your view on Nifty's near-term direction?
#Nifty50 #TechnicalAnalysis #RisingWedge #MarketOutlook #TradingView #ChartStudy #IndiaMarkets #BearishSetup #NiftyBreakdown #Puneet0130
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.