NIFTY Trading Between No Trading Zone (24,800–24,140)
Current Zone:
- NIFTY is trading between the No Trading Zone of 24,800 (Resistance) and 24,140 (Support).
Market Fall:
- NIFTY has declined by 11.47% from its recent top, indicating significant bearish momentum.
Fibonacci Resistance:
- At the 24,800 level, there is strong resistance at the 0.50 Fibonacci Retracement level.
On-Balance Volume (OBV):
-OBV is declining, signaling a lack of accumulation or buying pressure in the market.
Relative Strength Index (RSI):
- RSI is below 50, reflecting weak momentum and bearish bias.
Trading Levels
- Upside Scenario: Buy Above 24,800
- Downside Scenario: Sell Below 24,140
- NIFTY is trading between the No Trading Zone of 24,800 (Resistance) and 24,140 (Support).
Market Fall:
- NIFTY has declined by 11.47% from its recent top, indicating significant bearish momentum.
Fibonacci Resistance:
- At the 24,800 level, there is strong resistance at the 0.50 Fibonacci Retracement level.
On-Balance Volume (OBV):
-OBV is declining, signaling a lack of accumulation or buying pressure in the market.
Relative Strength Index (RSI):
- RSI is below 50, reflecting weak momentum and bearish bias.
Trading Levels
- Upside Scenario: Buy Above 24,800
- Downside Scenario: Sell Below 24,140
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