Will this level be a probable SC!!!
Given the recent market structure, the Nifty 50 is experiencing significant selling pressure as it hovers around critical support levels. The most likely level for a selling climax could occur around the 24,500–24,400 range, which represents a key support zone. This level has historically acted as a psychological and technical floor, and if breached, it could signal a sharper downside correction.
The market is already showing bearish tendencies, and a failure to hold at 24,667 (the immediate support) could intensify the selling, pushing the index lower. A selling climax is often characterized by high trading volumes and sharp price drops, suggesting panic selling. In this scenario, if the market reaches the 24,400 zone with these conditions, it could trigger a capitulation event, which may mark the end of the downtrend and set the stage for a potential recovery.
In summary, the most probable area for a selling climax would be between 24,400 and 24,500, contingent on the break of existing support levels and continued weak market sentiment. Traders are advised to watch these levels closely, as the market may show signs of reversal after this potential climax.
The market is already showing bearish tendencies, and a failure to hold at 24,667 (the immediate support) could intensify the selling, pushing the index lower. A selling climax is often characterized by high trading volumes and sharp price drops, suggesting panic selling. In this scenario, if the market reaches the 24,400 zone with these conditions, it could trigger a capitulation event, which may mark the end of the downtrend and set the stage for a potential recovery.
In summary, the most probable area for a selling climax would be between 24,400 and 24,500, contingent on the break of existing support levels and continued weak market sentiment. Traders are advised to watch these levels closely, as the market may show signs of reversal after this potential climax.
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