The 3rd Wave

📊 MAK CAPITAL | NIFTY 50 WEEKLY TECHNICAL OUTLOOK Market Structure: Bearish ⚠️ Nifty 50 continues to trade under pressure, forming lower highs and lower lows on the weekly chart. The index is now testing a crucial historical support zone after a sharp correction from the 24,700–24,800 levels. 📉 1️⃣ RSI – 32.74 RSI is approaching the oversold zone. This indicates weakness, but remember: an oversold RSI does not automatically mean the market has bottomed out. 📉 2️⃣ MACD – Bearish MACD remains deeply negative and below its signal line, confirming that bearish momentum is still dominant. A clear improvement in momentum is needed before expecting a sustainable recovery. 🎯 3️⃣ Key Support Levels 🔹 22,248–22,184: Crucial support zone 🔹 21,696: Next support if the current zone breaks 🔹 20,584: Deeper support in case selling intensifies 🚧 4️⃣ Key Resistance Levels 🔸 23,173: Immediate resistance 🔸 23,894: Major resistance 🔸 24,772: Important recovery level 📈 5️⃣ What Next? ✅ Bullish Scenario: If Nifty holds the 22,184–22,248 zone and forms a convincing reversal pattern, a recovery towards 22,700 and 23,173 is possible. A sustained move above 23,173 would improve the short-term outlook. ❌ Bearish Scenario: A decisive weekly close below 22,184 could open the door towards 21,696, with further downside risk if selling pressure continues. 💡 MAK Capital Strategy At present, capital preservation and patience are more important than aggressive buying. Avoid assuming that the market has bottomed out merely because valuations have corrected or RSI is near oversold territory. Watch price action around support and wait for confirmation before increasing exposure. The market does not reward impatience. Discipline, risk management and selective accumulation matter most during uncertain phases. — MAK Capital Growing Wealth Together Disclaimer: Technical analysis is indicative, not a guarantee of future market direction. This is for educational purposes only and not a recommendation to buy or sell securities.