16/07/2026
๐ NIFTY 50 Analysis: Rangebound Or Ready To Break? ๐๐
Nifty closed today at approximately 24,074โan interesting level as we head into the final trading day of the week. Tomorrow's closing is going to be very important for the weekly trend! ๐
As you can see on the charts, Nifty has been completely sideways and rangebound for the last two weeks, heavily relying on gap-ups and gap-downs. This chop is problematic for momentum traders, but key levels make all the difference!
Here is your game plan for tomorrow:
๐ BULLISH SCENARIO (Upside Levels)
If Nifty opens, holds, and sustains above 24,090:
Target 1: 24,150 ๐ฏ
Target 2: 24,250 (if we clear 24,150) ๐ฏ
๐ป BEARISH SCENARIO (Downside Levels)
If Nifty opens, holds, and sustains below 24,070:
Target 1: 24,000 ๐ฏ
Target 2: 23,940 (confirmed by a 15-minute red candle close below 24,000) ๐ฏ
Target 3: 23,800 ๐ฏ
โก Looking for the NEXT BIG MOVE?
The real momentum will only kick in when this current range shifts:
For a major Upside Rally (400โ500 points): We need a daily close above 24,300.
For a major Downside Sell-off (300โ400 points): We need a daily close below 23,800.
My Advice: Until the range breaks, trade strictly level-to-level, manage your risk, and mark these key levels on your charts! ๐
Thank you for watching! Let me know your thoughts in the comments below. ๐