Nifty 50 Update | Technical Levels Mapped

There are two chart of Nifty50.

Nifty 50 is trading within a well-defined parallel channel. As part of its natural corrective phase, a potential decline of around 5% cannot be ruled out, with key support anticipated near the 24,400–24,500 zone.

Nifty is forming a broadening wedge pattern on the 1-hour timeframe, with crucial support around 24,740. Additionally, both the weekly and monthly pivot supports are aligned in the 24,740–24,710 zone, reinforcing the significance of this level.

If this level sustain then we may see higher prices in Nifty50.

Thank You !!