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Done after closing first candle below 24600
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The Nifty 50 is forming an ascending triangle pattern and is currently testing key horizontal resistance around 24,570 ā 24,600.
Key Technical Levels & Outlook
Resistance Zone: 24,570 ā 24,600. A decisive daily close above 24,600 confirms a bullish breakout toward 25,000, where heavy open interest/volume profile resistance sits.
Support Zone: 24,000 ā 24,200. Supported by the ascending trendline (higher lows structure) and strong call/put build-up shown in the volume profile.
Bullish Trigger: A breakout above 24,600 targeting 24,850 and 25,000. Stop-loss can be placed below the immediate swing low around 24,300.
Bearish Trigger: Rejection from 24,600 leading to a drop back toward the trendline support around 24,200 ā 24,000.
