š° Nifty Trading Plan ā 8th July 2025
š Market Outlook:
Nifty is currently trading within a parallel channel, indicating a phase of consolidation with a possible downside breakout. Technical indicators and price action suggest that the index is facing selling pressure near the upper boundary of the channel.
š Key Levels to Watch:
-
Retest Zone: 25,370.50 ā This level is acting as a potential resistance where Nifty may attempt a minor pullback before resuming its downward move.
-
Downside Target: 24,977.15 ā A break below the support trendline can push Nifty towards this target zone, making it a high-probability level for short-term traders.
š Plan of Action:
-
Traders should watch for price rejection or bearish confirmation near 25,370.50.
-
If the index fails to sustain above this zone, a short position can be considered with a target of 24,977.15.
-
Maintain strict stop-loss management as the index is still within a channel and false breakouts are possible.
ā ļø Note: Always confirm setups with volume, candlestick confirmation, or moving average crossovers before entering trades. Market volatility may increase due to global cues or domestic news.
