Nifty 50 1 Day View

📊 Key Levels for Nifty 50 (Daily Timeframe)
Resistance Levels:

R1: 25,471.52

R2: 25,519.43

R3: 25,590.32

Support Levels:

S1: 25,352.72

S2: 25,281.83

S3: 25,233.92

These levels are derived from classic pivot point calculations based on the previous day's price range.

🔄 Trend Analysis

Short-Term Trend: The Nifty 50 has formed a higher top and higher bottom pattern on the daily chart, indicating a bullish trend.

Moving Averages: The index is trading above its 20, 50, 100, and 200-day moving averages, suggesting a bullish momentum.

⚠️ Market Sentiment

Despite the positive technical indicators, the SGX Nifty (Gift Nifty) is showing signs of a negative start, which may influence the market's direction at the open.

✅ Trading Strategy

Bullish Scenario: A sustained move above 25,500 could lead to a retest of the June high at 25,669.

Bearish Scenario: A decline below 25,350 may signal a short-term correction.