NIFTY Intraday Analysis: Bears Remain in Control
The NIFTY 1-minute chart shows strong selling pressure, with the index falling from around 23,145 toward 23,090. Price is trading below the blue
moving-average line, suggesting short-term bearish momentum.
The
23,120 zone is an important resistance area. If NIFTY remains below this level, selling pressure may continue. Immediate support is near
23,080, while a break below it could lead to further weakness.
The options chart also shows contrasting price action: the
23,100 CE has declined sharply, while the
23,100 PE has recovered strongly. This reflects bearish intraday sentiment in the displayed snapshot, although option prices can also be affected by volatility and time decay.
Key Levels to Watch
- Resistance: 23,100–23,120
- Immediate support: Around 23,080
- Trend: Short-term bearish while price stays below resistance
Traders should wait for price confirmation rather than entering based on a single candle. These levels are approximate and specific to the chart snapshot.
Disclaimer: This article is for educational purposes only and is not financial advice. Trading options involves significant risk.
