🟢Nifty Analysis EOD - May 6, 2025 - Tuesday 🔴
📌 Opening Mood:
A deceptive start near resistance—buyers had a moment, but bears owned the day.
📊 Nifty Summary:
Nifty opened at 24,509, precisely at the psychological and structural resistance zone. The first candle itself (O=H) reflected immediate selling pressure, and the index slid quickly, dropping 140+ points in the first hour. It tested the support zone around 24,330 ~ 24,365, which had earlier acted as resistance—a polarity zone now holding as support.
Despite multiple attempts, Nifty couldn’t break back above the upper consolidation band (around 24,400–24,410). For most of the day, it traded in a tight 40–50 point range and eventually settled near the lower end of that range at 24,379.60, while intraday close came in at 24,331.80.
⏱ Intraday Walk (5-min Time Frame Highlights):
🔻 First hour: Quick 140-point drop straight into support
🔄 10:30 AM–2:50 PM: Multiple bounce-back attempts failed at 24,400 and 24350
🧊 3:00 PM–3:30 PM: High volatility zone, test both sides of the range and the day ends with a new low.
🔒 Close: Near day’s low—weak handoff for next session
🧭 Daily Candle Breakdown
📌 Today’s Candle Type: Strong Bearish Candle
📖 Know How of Candle Type:
This candle type signals strong seller dominance. The real body is wide with almost no upper wick, implying bears controlled the day from start to end. Appears frequently after a failed attempt to break resistance.
📌 Today’s OHLC:
Open: 24,500.75
High: 24,509.65
Low: 24,331.80
Close: 24,379.60
Change: –81.55 (–0.33%)
📐 Candle Structure:
🔹 Real Body: 121.15 points → Strong Red Body (Bearish Control)
🔹 Upper Wick: 8.90 points → No meaningful buying (Daily TF, Intraday No Wick)
🔹 Lower Wick: 47.80 points → Slight pullback, but bears still dominate(Daily TF)
📌 Interpretation:
Bears were in control from the opening tick
The candle sits near the bottom of the day’s range
Comes after a bullish candle at resistance → Potential short-term reversal signal
Watch for confirmation below 24,330 to trigger an extended downside
⚔️ Gladiator Strategy Update
📌 Strategy Parameters:
ATR: 290.90
IB Range: 129.85
IB Category: Medium IB
Market Structure: Balanced
📌 Trade Highlights:
🔹 Trade Count: 1
✅ Long Trigger @ 11:25 AM → Minor profit as Trade Time Exit Trigger
🔮 What’s Next?
🟥 Short bias: Only below 24,330 with conviction
🟩 Long bias: Only if the price crosses and sustains above 24,460 ~ 24,490
⚠️ Between these levels: Avoid directional bets. Look for scalping setups only.
🔍 Support & Resistance Levels
📌 Resistance Zones:
24,400 ~ 24,420 (Immediate hurdle)
24,480 ~ 24,530 (Key zone with 24,500 psychological level)
24,590
24760~24,800
📌 Support Zones:
24,365 ~ 24,330 (Immediate support)
24,290
24,245 ~ 24,240
24,188
24,050
24,000 ~ 23,950
23,820
23,710 ~ 23,660
🧠 Final Thoughts
"In tight ranges, patience is not just a virtue—it’s a strategy. Let the levels do the talking."
✏️ Disclaimer
This is just my personal viewpoint. Always consult your financial advisor before taking any action.
📌 Opening Mood:
A deceptive start near resistance—buyers had a moment, but bears owned the day.
📊 Nifty Summary:
Nifty opened at 24,509, precisely at the psychological and structural resistance zone. The first candle itself (O=H) reflected immediate selling pressure, and the index slid quickly, dropping 140+ points in the first hour. It tested the support zone around 24,330 ~ 24,365, which had earlier acted as resistance—a polarity zone now holding as support.
Despite multiple attempts, Nifty couldn’t break back above the upper consolidation band (around 24,400–24,410). For most of the day, it traded in a tight 40–50 point range and eventually settled near the lower end of that range at 24,379.60, while intraday close came in at 24,331.80.
⏱ Intraday Walk (5-min Time Frame Highlights):
🔻 First hour: Quick 140-point drop straight into support
🔄 10:30 AM–2:50 PM: Multiple bounce-back attempts failed at 24,400 and 24350
🧊 3:00 PM–3:30 PM: High volatility zone, test both sides of the range and the day ends with a new low.
🔒 Close: Near day’s low—weak handoff for next session
🧭 Daily Candle Breakdown
📌 Today’s Candle Type: Strong Bearish Candle
📖 Know How of Candle Type:
This candle type signals strong seller dominance. The real body is wide with almost no upper wick, implying bears controlled the day from start to end. Appears frequently after a failed attempt to break resistance.
📌 Today’s OHLC:
Open: 24,500.75
High: 24,509.65
Low: 24,331.80
Close: 24,379.60
Change: –81.55 (–0.33%)
📐 Candle Structure:
🔹 Real Body: 121.15 points → Strong Red Body (Bearish Control)
🔹 Upper Wick: 8.90 points → No meaningful buying (Daily TF, Intraday No Wick)
🔹 Lower Wick: 47.80 points → Slight pullback, but bears still dominate(Daily TF)
📌 Interpretation:
Bears were in control from the opening tick
The candle sits near the bottom of the day’s range
Comes after a bullish candle at resistance → Potential short-term reversal signal
Watch for confirmation below 24,330 to trigger an extended downside
⚔️ Gladiator Strategy Update
📌 Strategy Parameters:
ATR: 290.90
IB Range: 129.85
IB Category: Medium IB
Market Structure: Balanced
📌 Trade Highlights:
🔹 Trade Count: 1
✅ Long Trigger @ 11:25 AM → Minor profit as Trade Time Exit Trigger
🔮 What’s Next?
🟥 Short bias: Only below 24,330 with conviction
🟩 Long bias: Only if the price crosses and sustains above 24,460 ~ 24,490
⚠️ Between these levels: Avoid directional bets. Look for scalping setups only.
🔍 Support & Resistance Levels
📌 Resistance Zones:
24,400 ~ 24,420 (Immediate hurdle)
24,480 ~ 24,530 (Key zone with 24,500 psychological level)
24,590
24760~24,800
📌 Support Zones:
24,365 ~ 24,330 (Immediate support)
24,290
24,245 ~ 24,240
24,188
24,050
24,000 ~ 23,950
23,820
23,710 ~ 23,660
🧠 Final Thoughts
"In tight ranges, patience is not just a virtue—it’s a strategy. Let the levels do the talking."
✏️ 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.