Nifty Trend Update: Daily Downtrend, SMALER TIME FRAME ........ Nifty Analysis & Trade Plan – Trend Shift & Key Levels
📌 Market Structure & Trend Analysis
Daily Time Frame: The trend has shifted to a downtrend after a Change of Character (ChoCh) below 23,875.
Weekly Time Frame: The POI has been tapped, aligning with the daily trend shift.
Monthly Time Frame: The price has broken below an Internal Daily Market Structure (IDM), indicating potential further downside.
📌 Consolidation & Breakout Scenarios
Current Price Action: Nifty has been consolidating within the same price zone for the past 5 days.
Key Reference Levels:
Previous Low: 21,964
Resistance Breakout Level: If price breaks above this consolidation, we can expect a fast rally towards ₹23,050.
Failure to Create New High: If the price fails to break and sustain above consolidation, we could see a downmove towards ₹21,500 – ₹21,250.
📌 Trading Plan & Confirmation Strategy
Bullish Confirmation:
Price needs to break and hold above the consolidation zone.
A successful breakout can trigger a rapid move towards ₹23,050.
Bearish Confirmation:
If price fails to create a new high and rejects consolidation, watch for a break below ₹21,964, leading to a move towards ₹21,500 – ₹21,250.
Adaptive Trading: As traders, we must stay flexible and adjust our trading plan based on real-time price action.
📌 Final Thoughts
This analysis focuses on price behavior after consolidation and the swipe method to determine high-probability trade setups. Stay patient, wait for confirmation, and react to price movements accordingly.