CMP $4.460 as per daily chart counter is moving in accending triangle and as per this triangle primary support is around 4.040 for this session if natgas hold to manage below this level then we will see a retest of 3.70 and 3.30 in coming days.. but 4.00 is looking a reversal point and it may act as good support and reversal from that area will confirm new highs for the year.. and may rally up to 5.22 and 6.00 till nov. dec. as per this triangle we can expect a retest of 4.26 that is support of resing trend line there trader can use 4.00 as sl if want to go long in this counter for tgt of 5.20-6.00 in comming days.. a break below 4.040 will completly neglact this bullish view
Nifty settled at 24,578 , down by 1.39% on Tuesday. The index failed to attract follow-up buying above 24,800 , which acted as a strong resistance zone (as highlighted in our previous write-up dated May 2, 2025 ). It eventually closed well below this level, indicating the presence of selling interest near key resistance. Technical Overview: Nifty successfully tested the resistance zone of 24,800 and subsequently formed a bearish Harami pattern on the daily chart. This pattern coincides with a recent swing top and occurred near a resistance zone, thereby strengthening its technical significance. A large trading range was observed on Monday, May 12, 2025 , which suggests the possibility of a sideways move in the coming sessions. Despite the recent pullback, the intermediate trend remains bullish as the price is still holding above the 9 and 21 DEMA levels. Moreover, the 9 DEMA is placed above the 21 DEMA , confirming the uptrend. Key support is now seen in the 24,100–24,000...
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