🟢 Nifty Analysis EOD - May 9, 2025 - Thursday 🔴
🧨 Gap Down, Rebound & a Triangle Trap – Bulls Show Spine Amid Chaos
Opening Mood:
Overnight panic from geopolitical tensions shook the market’s foundation—but the bulls weren’t ready to surrender just yet.
🧭 Nifty Summary:
Gift Nifty had plunged to 23,760 late last night on news of escalating conflict—marking a 445-point fall. However, as the night wore on without further developments, markets began to stabilize. At the open, Nifty registered a gap-down of 338 points at 23,935, but the first 5-minute candle showed strength, racing to fill the gap.
After a brief attempt to break the Previous Day’s Low (PDL), Nifty failed to hold below and slid back to its origin. The rest of the day was a tug-of-war with sharp two-sided moves, eventually forming a descending triangle pattern—a sign of compression and directional indecision.
🕯️ Daily Candle Breakdown:
Today’s Candle: Wide-range doji with upper wick—signs of volatility and hesitation
Close: 24,008 (▲ Positive)
Key Observations:
✅ Above 24,000 Psychological Mark
✅ Held Support Zone: 24,000 ~ 23,950
✅ Above Recent Swing Low: 23,847.85
❌ Slightly Below Previous Week’s Low: 24,054.05
❌ Below Previous Swing Close: 24,036
What It Implies:
Buyers are stepping in at key supports, but conviction is still lacking. The market remains reactive to global cues, especially Mission Sindoor ones.
⚔️ Gladiator Strategy Update
Strategy Parameters:
ATR: 291.20
IB Range: 204.00 (Large IB)
Market Structure: ImBalanced
Trade Highlights:
Total Trades: 1
✅ Long Trigger @ 10:10 AM → Target 1:1.5 Achieved
📈 Intraday Walk (5-Min View):
Strong gap-fill in the first candle signaled bullish intent
Failed breakdown below PDL trapped weak shorts
Descending triangle emerged as price compressed
Market closed near resistance but above key support—neutral to slightly bullish tone
🔮 What’s Next?
This market is walking a tightrope between sentiment and structure. On one hand, technical levels are being respected—but on the other, global uncertainty is keeping participants hesitant.
“This is a news-driven market. Delivery trades are best avoided. Stay nimble, trade the levels, and protect capital. Remember, sometimes staying out is a profitable strategy.”
🔍 Support & Resistance Levels
🔼 Resistance Zones:
24,036 ~ 24,044
24,150 ~ 24,165
24,188 ~ 24,240
24,290
24,330 ~ 24,365
24,400 ~ 24,420
🔽 Support Zones:
24,000 ~ 23,950
23,935
23,890 ~ 23,870
23,848
23,820
23,710 ~ 23,660
📌 Final Thoughts:
“Structure is key. When levels work, respect them. When they break, adapt.”
In a market full of noise, discipline and level-based action is your edge.
✏️ Disclaimer
This is just my personal viewpoint. Always consult your financial advisor before taking any action.
🧨 Gap Down, Rebound & a Triangle Trap – Bulls Show Spine Amid Chaos
Opening Mood:
Overnight panic from geopolitical tensions shook the market’s foundation—but the bulls weren’t ready to surrender just yet.
🧭 Nifty Summary:
Gift Nifty had plunged to 23,760 late last night on news of escalating conflict—marking a 445-point fall. However, as the night wore on without further developments, markets began to stabilize. At the open, Nifty registered a gap-down of 338 points at 23,935, but the first 5-minute candle showed strength, racing to fill the gap.
After a brief attempt to break the Previous Day’s Low (PDL), Nifty failed to hold below and slid back to its origin. The rest of the day was a tug-of-war with sharp two-sided moves, eventually forming a descending triangle pattern—a sign of compression and directional indecision.
🕯️ Daily Candle Breakdown:
Today’s Candle: Wide-range doji with upper wick—signs of volatility and hesitation
Close: 24,008 (▲ Positive)
Key Observations:
✅ Above 24,000 Psychological Mark
✅ Held Support Zone: 24,000 ~ 23,950
✅ Above Recent Swing Low: 23,847.85
❌ Slightly Below Previous Week’s Low: 24,054.05
❌ Below Previous Swing Close: 24,036
What It Implies:
Buyers are stepping in at key supports, but conviction is still lacking. The market remains reactive to global cues, especially Mission Sindoor ones.
⚔️ Gladiator Strategy Update
Strategy Parameters:
ATR: 291.20
IB Range: 204.00 (Large IB)
Market Structure: ImBalanced
Trade Highlights:
Total Trades: 1
✅ Long Trigger @ 10:10 AM → Target 1:1.5 Achieved
📈 Intraday Walk (5-Min View):
Strong gap-fill in the first candle signaled bullish intent
Failed breakdown below PDL trapped weak shorts
Descending triangle emerged as price compressed
Market closed near resistance but above key support—neutral to slightly bullish tone
🔮 What’s Next?
This market is walking a tightrope between sentiment and structure. On one hand, technical levels are being respected—but on the other, global uncertainty is keeping participants hesitant.
“This is a news-driven market. Delivery trades are best avoided. Stay nimble, trade the levels, and protect capital. Remember, sometimes staying out is a profitable strategy.”
🔍 Support & Resistance Levels
🔼 Resistance Zones:
24,036 ~ 24,044
24,150 ~ 24,165
24,188 ~ 24,240
24,290
24,330 ~ 24,365
24,400 ~ 24,420
🔽 Support Zones:
24,000 ~ 23,950
23,935
23,890 ~ 23,870
23,848
23,820
23,710 ~ 23,660
📌 Final Thoughts:
“Structure is key. When levels work, respect them. When they break, adapt.”
In a market full of noise, discipline and level-based action is your edge.
✏️ 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.