📊 NIFTY50 1W | Chart Analysis
• Structure: Bullish (Higher Low formation)
• SMC: Price has reclaimed the previous swing high and is now testing a major weekly supply/turning point.
• Resistance: 24,350–24,450
• Immediate Support: 24,000
• Strong Support: 23,600–23,700
• Bullish Scenario:
– A weekly close above 24,450 can confirm strength and open the path towards fresh all-time highs.
• Bearish Scenario:
– Rejection from the current supply zone may lead to a pullback towards 24,000 before the next directional move.
• Bias: Medium-term bullish. As long as 24,000 holds, buy-on-dips remains the preferred approach. Watch the 24,350–24,450 zone closely for confirmation.