š NIFTY50 1W | Chart Analysis
ā¢ Structure: Bullish (Higher Low formation)
ā¢ SMC: Price has reclaimed the previous swing high and is now testing a major weekly supply/turning point.
ā¢ Resistance: 24,350ā24,450
ā¢ Immediate Support: 24,000
ā¢ Strong Support: 23,600ā23,700
ā¢ Bullish Scenario:
ā A weekly close above 24,450 can confirm strength and open the path towards fresh all-time highs.
ā¢ Bearish Scenario:
ā Rejection from the current supply zone may lead to a pullback towards 24,000 before the next directional move.
ā¢ Bias: Medium-term bullish. As long as 24,000 holds, buy-on-dips remains the preferred approach. Watch the 24,350ā24,450 zone closely for confirmation.