Nifty has recently retested a key Fibonacci retracement level, which coincides with a well-defined supply zone on the higher timeframe. The price action suggests strong resistance absorption in this area, followed by a period of sideways consolidation — often a precursor to a decisive move.
Unlike previous market cycles, the Indian indices are showing relative strength and reduced correlation with US markets, indicating a potential domestic-driven breakout scenario.
A short-term shakeout or liquidity hunt cannot be ruled out before the index establishes a clear direction. If the current structure holds, we could see a one-sided rally towards the 32,488 zone in the upcoming sessions.
📊 This is my personal technical view, not financial advice.
⚠️ I am not a SEBI-registered analyst. Please do your own research and risk assessment before taking any trades.
Unlike previous market cycles, the Indian indices are showing relative strength and reduced correlation with US markets, indicating a potential domestic-driven breakout scenario.
A short-term shakeout or liquidity hunt cannot be ruled out before the index establishes a clear direction. If the current structure holds, we could see a one-sided rally towards the 32,488 zone in the upcoming sessions.
📊 This is my personal technical view, not financial advice.
⚠️ I am not a SEBI-registered analyst. Please do your own research and risk assessment before taking any trades.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.