Saturday, 24 May 2025

NIFTY NEXT 50 (NIFTY JR.) Analysis 24-May-2025: BULL or BEAR?

LTP: 67095

Resistance: 67750

Supports: 57250/56189


As per this chart, there are two wave counts visible.

BEARISH SCENARIO:

If the move from 56189, is a leading diagonal, then we can see bigger correction towards 63400/62000 before BIG REVERSAL towards 77-80K first.


BULLISH SCENARIO:

Else if 57250 is the bottom (assuming truncated) and a break of 67750, we will see 72-73-76K first and further 80K-85K can be seen.


As of now, I expect correction towards 63-62K before big reversal.


Above 67750, I will follow Bullish scenario. As long as 67750 resists, I will be bearish.


https://in.tradingview.com/chart/NIFTYJR/HPLo7mw8-NIFTY-NEXT-50-NIFTY-JR-Analysis-24-May-2025-BULL-or-BEAR/

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