🟢 Nifty Analysis EOD - 22nd April 2025 🔴
🧠 Market Background:
As highlighted in the previous session analysis, we were expecting a range-bound or narrow-range trading day — and that’s exactly what played out.
Nifty opened at 24,185, right below the resistance zone where yesterday’s session had consolidated heavily. Early in the session, price fell below the Previous Day Close (PDC) and took support exactly at the Central Pivot Range (CPR) before staging a sharp move up — breaking both Current Day High (CDH) and Previous Day High (PDH).
However, the 24,225 resistance zone acted as a speed breaker, pushing prices back down toward VWAP, which then provided a solid support base. Until around 2:45 PM, Nifty kept forming higher lows, giving hopes for continuation — but then broke the previous swing low, forming a new lower low into the close.
📊 Price Action Insight:
Day closed above the CPR zone, which still favors the bullish structure
However, on the daily timeframe, a near-perfect Doji candle has formed, with just a 9-point body, indicating indecision or a pause in the trend
The intraday range was 170 points, noticeably lower than Nifty’s average range, hinting at contraction
In such a case, trading the Doji becomes simple — wait for either high or low to break, but also consider nearby support/resistance confluence for better edge
🎯 Strategic Outlook:
A retracement towards 23,660–23,710 or even 23,200 can’t be ruled out — although it's early to confirm
Broader sentiment stays bullish, but this Doji suggests a pause or potential reversal — so caution near upper zones is advised
Keep tracking key global cues and sector rotation — especially with Midcaps and Smallcaps showing strong resilience
📌 Gladiator Strategy Update
ATR: 362.5
IB Range: 129.65 (Medium IB)
Market Structure: Balanced
Long Trade Triggered at 10:30 AM — ✅ 1:1.5 Target Achieved
Second Long Entry at 11:40 AM — ❌ SL Hit
📈 Index Performance
Nifty: +42 Points (+0.17%)
Bank Nifty: 🔼 New All-Time High at 55,961, closing at 55,647 (+342 pts / +0.6%)
Nifty 500: +79 Points (+0.36%)
Midcap: +422 Points (+0.78%)
Smallcap: +122 Points (+0.73%)
📌 Key Levels to Watch
🔺 Resistance Zones
• 24,190 ~ 24,225
• 24,330 ~ 24,360
• 24,480 ~ 24,540
🔻 Support Zones
• 23,950 ~ 24,000 (Immediate support)
• 23,820
• 23,660 ~ 23,710
• 23,500
• 23,400 ~ 23,430
• 23,200 ~ 23,190
🧘♂️ Final Thoughts
"Structure is key. When levels work, respect them. When they break, adapt."
Stay level-headed, stay prepared. Let the market show you the way.
✏️ Disclaimer ✏️
This is just my personal viewpoint. Always consult your financial advisor before taking any action.
🧠 Market Background:
As highlighted in the previous session analysis, we were expecting a range-bound or narrow-range trading day — and that’s exactly what played out.
Nifty opened at 24,185, right below the resistance zone where yesterday’s session had consolidated heavily. Early in the session, price fell below the Previous Day Close (PDC) and took support exactly at the Central Pivot Range (CPR) before staging a sharp move up — breaking both Current Day High (CDH) and Previous Day High (PDH).
However, the 24,225 resistance zone acted as a speed breaker, pushing prices back down toward VWAP, which then provided a solid support base. Until around 2:45 PM, Nifty kept forming higher lows, giving hopes for continuation — but then broke the previous swing low, forming a new lower low into the close.
📊 Price Action Insight:
Day closed above the CPR zone, which still favors the bullish structure
However, on the daily timeframe, a near-perfect Doji candle has formed, with just a 9-point body, indicating indecision or a pause in the trend
The intraday range was 170 points, noticeably lower than Nifty’s average range, hinting at contraction
In such a case, trading the Doji becomes simple — wait for either high or low to break, but also consider nearby support/resistance confluence for better edge
🎯 Strategic Outlook:
A retracement towards 23,660–23,710 or even 23,200 can’t be ruled out — although it's early to confirm
Broader sentiment stays bullish, but this Doji suggests a pause or potential reversal — so caution near upper zones is advised
Keep tracking key global cues and sector rotation — especially with Midcaps and Smallcaps showing strong resilience
📌 Gladiator Strategy Update
ATR: 362.5
IB Range: 129.65 (Medium IB)
Market Structure: Balanced
Long Trade Triggered at 10:30 AM — ✅ 1:1.5 Target Achieved
Second Long Entry at 11:40 AM — ❌ SL Hit
📈 Index Performance
Nifty: +42 Points (+0.17%)
Bank Nifty: 🔼 New All-Time High at 55,961, closing at 55,647 (+342 pts / +0.6%)
Nifty 500: +79 Points (+0.36%)
Midcap: +422 Points (+0.78%)
Smallcap: +122 Points (+0.73%)
📌 Key Levels to Watch
🔺 Resistance Zones
• 24,190 ~ 24,225
• 24,330 ~ 24,360
• 24,480 ~ 24,540
🔻 Support Zones
• 23,950 ~ 24,000 (Immediate support)
• 23,820
• 23,660 ~ 23,710
• 23,500
• 23,400 ~ 23,430
• 23,200 ~ 23,190
🧘♂️ Final Thoughts
"Structure is key. When levels work, respect them. When they break, adapt."
Stay level-headed, stay prepared. Let the market show you the way.
✏️ Disclaimer ✏️
This is just my personal viewpoint. Always consult your financial advisor before taking any action.
Blogs : substack.com/@kzatakia
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Blogs : substack.com/@kzatakia
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.