Technical Analysis of Nifty 50: Key Levels, Patterns, and Break

The image appears to show a technical analysis chart of the Nifty 50 index, with indicators, support/resistance zones, and patterns marked on the chart. Here's an analysis:

1. **Key Levels**:
- **Resistance (Seller's Zone)**: Around the 24,664.55 level. A breakout above this level might indicate further bullish activity, as stated in the chart.
- **Support 1**: Near 24,498.75. This could serve as the immediate support level.
- **Support 2**: Around 24,348.90, a stronger support area in case of a downward move.

2. **Chart Patterns**:
- **Morning Star Pattern**: Highlighted near Support 1. This bullish reversal pattern indicates potential buying momentum.
- **Price Action**: The market is consolidating between the Buyer’s and Seller’s zones.

3. **Indicators**:
- **RSI (Relative Strength Index)**: Currently around 53.75, which is neutral. It's neither overbought (>70) nor oversold (<30), suggesting a balanced momentum.
- **Volume**: Increased buying volume in the Buyer’s zone indicates significant interest at lower levels.

4. **Potential Scenarios**:
- **Bullish Scenario**: If the price crosses the seller’s zone, marked at 24,664.55, it may lead to further upside as indicated in the chart.
- **Bearish Scenario**: If the price breaks below Support 1 (24,498.75), it could test Support 2 (24,348.90).

5. **Strategy**:
- Watch for a breakout above the Seller's zone with volume confirmation for long entries.
- Look for price action signals around the Support 1 level for potential buying opportunities if the price retraces.

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