#NIFTY50 - 24TH DECEMBER !!

NIFTY CHART ANALYSIS (24TH DEC)

Important Levels:

1. Resistance Levels:
- 24,259.50: Key resistance zone where selling pressure might build.

- 23,926.95: Immediate resistance near the current price.

2. Support Levels:
- 23,398.85: Major support level below the current price where buyers could step in.

3. Trendline:
- A downward trendline acts as dynamic resistance, connecting lower highs and reinforcing the bearish momentum.

Analysis:
- The price is in a bearish trend, consistently making lower highs and lower lows.

- Current Scenario: The price is near the trendline and could face rejection, continuing the downward move toward 23,398.85.

- Alternative Scenario: A breakout above the trendline might invalidate the bearish setup, potentially leading to a test of 23,926.95 or higher.

Only for educational purposes.
This content is not a recommendation to buy and sell.
Not SEBI REGISTRAR.