🟢 Nifty Analysis EOD – 21st April 2025 🔴
After the surprise expiry rally… comes the slowdown!
📌 Background
After the stunning 414-point move on the weekly expiry day, Friday’s holiday break created the perfect breather. The key question heading into Monday was:
“Will Nifty carry forward its momentum and breach 24,050? Or pause for breath?”
Turns out, the market chose both – initial enthusiasm, followed by exhaustion and consolidation.
📌 Today’s Price Action
Nifty opened at 23,949, right at the resistance zone of 23,950 ~ 24,000.
➤ The IB High was formed at 24,052, triggering a textbook IB Breakout just above the 200 SMA zone.➤ Price moved swiftly towards 24,188 – the Previous Highest Swing Close, and then... paused.
From there, a 50-minute tight consolidation followed – one of the narrowest ranges seen in recent sessions, signaling a temporary equilibrium between buyers and sellers.
Despite the bullish open and early breakout, Nifty closed at 24,133, just below the major resistance.
📊 Gladiator Strategy Parameters
ATR: 383.83
IB Range: 134.20
IB Type: Medium IB
IB Day: IB Breakout
Market Structure: Imbalanced
As per the Nifty Gladiator Strategy, the IB Breakout triggered around 10:45 AM, and the 1x IB target was achieved with clean follow-through.
📌 Technical Observations
📈 On the Daily Timeframe:
RSI stands at 65.53, now forming a potential RSI divergence.
Short RSI (3 of 3) is in the overbought zone.
Momentum remains intact, but the range is cooling off, cautioning intraday traders of potential traps ahead.
👉 A narrow range session or a false IB breakout is likely in the coming session.
📈 Index Performance
Nifty: +274 Points (+1.15%)
Bank Nifty: New All-Time High at 55,461, closing at 55,295 (+1.87% / +1,014 points)
Nifty 500: +324 Points (+1.5%)
Midcap: +1,316 Points (+2.5%)
Smallcap: +363 Points (+2.2%)
Broader market sentiment remained strong and outperformed Nifty.
📌 Important Levels to Watch
🔼 Resistance Zones
➤ 24,190 ~ 24,225➤ 24,330 ~ 24,360➤ 24,480 ~ 24,540
🔽 Support Zones
➤ 23,950 ~ 24,000 (now immediate support)➤ 23,820➤ 23,660 ~ 23,710➤ 23,500➤ 23,400 ~ 23,430➤ 23,200 ~ 23,190
🧠 What’s the Trade Setup Now?
Don’t be overly bullish at highs – wait for follow-through or failed breakout confirmation.
If price holds above 24,190, then 24,330/24,480 becomes achievable.
Failure to sustain above 24,050 could trap late bulls.
Let Tuesday’s opening structure guide your bias.
🧘 Final Thought"Structure is key. When levels work, respect them. When they break, adapt."
Stay alert as we approach higher resistance zones—momentum remains but risk of whipsaws rises.
✏️ DisclaimerThis is just my personal viewpoint. Always consult your financial advisor before taking any action 🙏
After the surprise expiry rally… comes the slowdown!
📌 Background
After the stunning 414-point move on the weekly expiry day, Friday’s holiday break created the perfect breather. The key question heading into Monday was:
“Will Nifty carry forward its momentum and breach 24,050? Or pause for breath?”
Turns out, the market chose both – initial enthusiasm, followed by exhaustion and consolidation.
📌 Today’s Price Action
Nifty opened at 23,949, right at the resistance zone of 23,950 ~ 24,000.
➤ The IB High was formed at 24,052, triggering a textbook IB Breakout just above the 200 SMA zone.➤ Price moved swiftly towards 24,188 – the Previous Highest Swing Close, and then... paused.
From there, a 50-minute tight consolidation followed – one of the narrowest ranges seen in recent sessions, signaling a temporary equilibrium between buyers and sellers.
Despite the bullish open and early breakout, Nifty closed at 24,133, just below the major resistance.
📊 Gladiator Strategy Parameters
ATR: 383.83
IB Range: 134.20
IB Type: Medium IB
IB Day: IB Breakout
Market Structure: Imbalanced
As per the Nifty Gladiator Strategy, the IB Breakout triggered around 10:45 AM, and the 1x IB target was achieved with clean follow-through.
📌 Technical Observations
📈 On the Daily Timeframe:
RSI stands at 65.53, now forming a potential RSI divergence.
Short RSI (3 of 3) is in the overbought zone.
Momentum remains intact, but the range is cooling off, cautioning intraday traders of potential traps ahead.
👉 A narrow range session or a false IB breakout is likely in the coming session.
📈 Index Performance
Nifty: +274 Points (+1.15%)
Bank Nifty: New All-Time High at 55,461, closing at 55,295 (+1.87% / +1,014 points)
Nifty 500: +324 Points (+1.5%)
Midcap: +1,316 Points (+2.5%)
Smallcap: +363 Points (+2.2%)
Broader market sentiment remained strong and outperformed Nifty.
📌 Important Levels to Watch
🔼 Resistance Zones
➤ 24,190 ~ 24,225➤ 24,330 ~ 24,360➤ 24,480 ~ 24,540
🔽 Support Zones
➤ 23,950 ~ 24,000 (now immediate support)➤ 23,820➤ 23,660 ~ 23,710➤ 23,500➤ 23,400 ~ 23,430➤ 23,200 ~ 23,190
🧠 What’s the Trade Setup Now?
Don’t be overly bullish at highs – wait for follow-through or failed breakout confirmation.
If price holds above 24,190, then 24,330/24,480 becomes achievable.
Failure to sustain above 24,050 could trap late bulls.
Let Tuesday’s opening structure guide your bias.
🧘 Final Thought"Structure is key. When levels work, respect them. When they break, adapt."
Stay alert as we approach higher resistance zones—momentum remains but risk of whipsaws rises.
✏️ DisclaimerThis 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.