NIFTY 50 Spot
I’m Watching for a Bounce 🚀
While the timeline is busy calling for 20,00...18,000... and below, I’m looking at the possibility of a recovery after 9 consecutive weeks of red candles.
My long position is currently open and for me, this remains a buy on dips opportunity as long as Nifty’s 1Hh candle doesn’t close below 22,180.
🔍 Key levels I’m tracking:
🟡 22,218 Liquidity sweep zone with strong positive RSI divergence
⚠️ 22,810 and 23,020 Major hurdles
🎯 A close above 23,020 could open the way for gap filling towards 23,300 to 23,400, where I plan to book a major portion of my profits.
🟢 +ve RSI divergence price has made a lower low, while RSI is forming a higher low. This suggests downside momentum is weakening and supports the possibility of a bounce.
If Nifty faces rejection at any marked resistance, I’ll remain cautious.
If a 1H candle closes below 22,180, I’ll review the chart and reassess my view.
I have a bias, but I also have a level that can change my view. That’s the difference between conviction and stubbornness.
Technical Setup:
👉 Refer to the chart for my technical levels, support/resistance zones and price action view.
🚨Disclaimer: Educational content only. Not investment advice. Please do your own research.
CODE : " N9W"
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