NIFTY 21 APRIL 2025 - Now, 23500 should act as strong support. Not advocating to hold anything overnight.
Hello everyone,
Thus, we witnessed the most intense 2000-point surge on the Nifty. The Nifty is currently trading at 23850. Please check the preceding chart, which shows that the Nifty has twice reached its highest point from those levels.
I advise fresh long to proceed with caution, but I do not advise short. This time, we are crossing or attempting to cross 23850 with the strongest momentum, which is my main justification for not producing shorts.
If the Nifty is able to successfully break through this resistance level, we might be in rally mode. The same energy that propelled the Nifty to its fastest 2000 points can also set a new record high for you.
Or, if it must malfunction, it might occasionally malfunction close to 24000 levels. We must therefore be in watch mode. Since the situation is unclear, I won't be sending anything overnight.
We observe the start of a subsequent level of decline where the rally fails or momentum slows down. Never forget that fear never goes that smoothly.
I found 23500 to be a crucial source of support for the time being.
Join the conversation