A gap of 800 points on the higher side over the past two sessions in NIFTY (as of 15 April 2025) is significant and can't be ignored from a technical analysis perspective.
A gap of 800 points on the higher side over the past two sessions in NIFTY (as of 15 April 2025) is significant and can't be ignored from a technical analysis perspective.
That’s a sharp and balanced market take — nicely laid out!
Here’s a quick summary of your view, just to organize it a bit more for clarity or sharing if needed:
Market Technical Outlook (Intraday View):
Support Zone:
Key support seen around 23,200–23,100.
Holding this range is crucial for any short-term strength.
Resistance Levels:
Immediate intraday resistance at 23,400.
Major resistance / “litmus test” sits at the 200 DMA (~23,650) — a critical level to watch for directional clarity.
Strategy Outlook:
Avoid fresh long positions until a meaningful pullback or consolidation is seen.
Market is still prone to extreme volatility; stability is needed for confidence in sustained upside.