🟢 Nifty Analysis EOD - April 23, 2025 🔴
"Hanging Man Candle on Bullish Trend—Pause or Plot Twist?"
📊 Market Recap:
As anticipated from the ongoing bullish structure, Nifty opened with a strong Gap-Up at 24,357, adding +192 Points (+0.79%) to the charts. However, what looked like a continuation day quickly turned cautious. The initial candle marked the day’s high (Open = High scenario, nearly exact) and started a gap-filling move, pushing prices back to CPR.
The market respected CPR as a support, then moved back towards its mean (VWAP) where the PDH + R1 zone resisted price action effectively until 1 PM. Post that, Nifty finally broke out, sustained above the zone, and closed at 24,300—still holding gains despite a red candle, which visually seems bearish but technically closes above VWAP + PDH. Hence, a hidden bullish undertone remains.
🕯 Daily Candle Check: Is It a Hanging Man?
A textbook Hanging Man candle appears to have formed on the Daily Chart—a bearish reversal pattern that shows potential weakness at the top of a rally.
📌 Candle Stats:
Body: 28 points
Lower Shadow: 209 points
Upper Shadow: 2 points
Shadow-to-body ratio: 209 / 28 = 7.4x
✅ Trend Context: Yes, uptrend present
✅ Candle Structure: Meets all parameters
👉 Verdict: Confirmed Hanging Man Candle
This hints that selling pressure is gradually creeping in while buying strength might be exhausting. But a Hanging Man alone isn't a trade trigger—confirmation is key. So we watch tomorrow’s session to decide whether it’s just a pause or a trend shift.
📈 Intraday Insight: Head & Shoulders Pattern
During the session’s consolidation and bounceback phase, a Head & Shoulders pattern played out intraday with its target being 24,300—achieved successfully by EOD.
🔍 Pattern Recap:
This bullish reversal structure shows three dips, with the central one (head) being the deepest and two shallower ones (shoulders). A break above the “neckline” confirmed bullishness—supporting the rebound above VWAP.
📌 Gladiator Strategy Update
ATR: 350.19
IB Range: 94.75 (Small IB)
Market Structure: Imbalanced
🎯 Trade Highlights:
First Trade: Short – Triggered at 10:05 AM — ✅ 1:1.5 Target Achieved
Second Trade: Long – Triggered at 13:40 PM — ✅ 1:1.5 Target Achieved
Additional Trade (H&S Pattern): Long – Triggered at 11:40 AM — ✅ Pattern Target Achieved
🧠 Index Performance Snapshot:
Nifty 50: +161 Points (+0.67%)
Bank Nifty: -277 Points (-0.5%), but a new ATH at 56,098
Nifty 500: +152 Points (+0.69%)
Midcap: +644 Points (+1.18%)
Smallcap: +74 Points (+0.44%)
📌 Key Levels to Watch
📍 Resistance Zones:
24,330 ~ 24,360
24,480 ~ 24,540
24,800
📍 Support Zones:
24,190 ~ 24,225
23,950 ~ 24,000 (Immediate)
23,820
23,660 ~ 23,710
23,500
23,400 ~ 23,430
23,200 ~ 23,190
🧭 Final Thoughts:
"Reversal or Reset? Structure is key. When levels work, respect them. When they break, adapt."
✏️ Disclaimer ✏️
This is just my personal viewpoint. Always consult your financial advisor before taking any action.
"Hanging Man Candle on Bullish Trend—Pause or Plot Twist?"
📊 Market Recap:
As anticipated from the ongoing bullish structure, Nifty opened with a strong Gap-Up at 24,357, adding +192 Points (+0.79%) to the charts. However, what looked like a continuation day quickly turned cautious. The initial candle marked the day’s high (Open = High scenario, nearly exact) and started a gap-filling move, pushing prices back to CPR.
The market respected CPR as a support, then moved back towards its mean (VWAP) where the PDH + R1 zone resisted price action effectively until 1 PM. Post that, Nifty finally broke out, sustained above the zone, and closed at 24,300—still holding gains despite a red candle, which visually seems bearish but technically closes above VWAP + PDH. Hence, a hidden bullish undertone remains.
🕯 Daily Candle Check: Is It a Hanging Man?
A textbook Hanging Man candle appears to have formed on the Daily Chart—a bearish reversal pattern that shows potential weakness at the top of a rally.
📌 Candle Stats:
Body: 28 points
Lower Shadow: 209 points
Upper Shadow: 2 points
Shadow-to-body ratio: 209 / 28 = 7.4x
✅ Trend Context: Yes, uptrend present
✅ Candle Structure: Meets all parameters
👉 Verdict: Confirmed Hanging Man Candle
This hints that selling pressure is gradually creeping in while buying strength might be exhausting. But a Hanging Man alone isn't a trade trigger—confirmation is key. So we watch tomorrow’s session to decide whether it’s just a pause or a trend shift.
📈 Intraday Insight: Head & Shoulders Pattern
During the session’s consolidation and bounceback phase, a Head & Shoulders pattern played out intraday with its target being 24,300—achieved successfully by EOD.
🔍 Pattern Recap:
This bullish reversal structure shows three dips, with the central one (head) being the deepest and two shallower ones (shoulders). A break above the “neckline” confirmed bullishness—supporting the rebound above VWAP.
📌 Gladiator Strategy Update
ATR: 350.19
IB Range: 94.75 (Small IB)
Market Structure: Imbalanced
🎯 Trade Highlights:
First Trade: Short – Triggered at 10:05 AM — ✅ 1:1.5 Target Achieved
Second Trade: Long – Triggered at 13:40 PM — ✅ 1:1.5 Target Achieved
Additional Trade (H&S Pattern): Long – Triggered at 11:40 AM — ✅ Pattern Target Achieved
🧠 Index Performance Snapshot:
Nifty 50: +161 Points (+0.67%)
Bank Nifty: -277 Points (-0.5%), but a new ATH at 56,098
Nifty 500: +152 Points (+0.69%)
Midcap: +644 Points (+1.18%)
Smallcap: +74 Points (+0.44%)
📌 Key Levels to Watch
📍 Resistance Zones:
24,330 ~ 24,360
24,480 ~ 24,540
24,800
📍 Support Zones:
24,190 ~ 24,225
23,950 ~ 24,000 (Immediate)
23,820
23,660 ~ 23,710
23,500
23,400 ~ 23,430
23,200 ~ 23,190
🧭 Final Thoughts:
"Reversal or Reset? Structure is key. When levels work, respect them. When they break, adapt."
✏️ 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.