Was checking the 5-min chart and NIFTY is now trading near the 23,550-23,600 resistance zone. Market has already taken support from lower zone and given a good intraday move. Now it’s facing resistance again.
From here two possibilities:
• If 23,600 breaks with volume → we can see continuation upside
• If it rejects here → pullback towards 23,400 zone possible hai
Trend abhi short term mein thoda bullish lag raha hai, but this level is important. Personally I will wait for break or rejection confirmation before taking any trade.
What do you think guys breakout milega ya rejection?