Nifty — Key Levels & Setup 📊 Nifty is forming a… — SS Trader Man — TG.ME

Nifty — Key Levels & Setup 📊 Nifty is forming a contracting/symmetrical triangle pattern. This is typically a compression phase where a decisive breakout or breakdown can lead to a strong directional move. Two levels are extremely crucial: 🔴 23,950 → Breakdown level 🟢 24,250 → Breakout level Today’s PCR is around 0.63, which looks relatively comfortable. A potential buying opportunity can be considered around 24,000–24,030, provided the support holds. Trade setup: 🟢 Buy zone: 24,000–24,030 🛑 Stop-loss: 23,950 📌 Put writing around 24,000 is active, which could provide support. On the upside, 24,200–24,300 remains a strong resistance zone. For the closing: • Above 24,100 → Slightly positive • Above 24,220 → Stronger market structure • Above 24,250 → Breakout confirmation • 23,800–23,950 → Major danger zone; decisive break could trigger a major breakdown The market is compressed — now the key is to watch which side of the triangle breaks.