## Key Levels

* **Resistance:** 24,650–24,800
* **Bullish Invalidation:** Daily close above 24,800–24,900
* **Immediate Support:** 24,100
* **Major Support:** 23,500
* **Medium-Term Target:** 22,800–22,000 (if the bearish scenario confirms)

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## Overall Rating

| Indicator | Rating |
| ---------------------------- | :--------: |
| Wolfe Wave Structure | ⭐⭐⭐⭐☆ |
| Trendline Analysis | ⭐⭐⭐⭐⭐ |
| Swing Analysis | ⭐⭐⭐⭐☆ |
| Elliott Wave Projection | ⭐⭐⭐⭐☆ |
| Overall Technical Confidence | **8.8/10** |

### Conclusion

The chart shows Nifty approaching a **high-confluence resistance zone** where a bearish Wolfe Wave may complete. A rejection from **24,700–24,800** followed by a break of nearby swing support would strengthen the case for a medium-term corrective phase toward **23,500** and potentially **22,800–22,000**. However, if Nifty achieves a convincing breakout and sustains above **24,800**, this bearish setup would lose validity and the market could transition into a renewed bullish trend.

> **Disclaimer:** This analysis is based solely on technical chart patterns, including Wolfe Wave, Elliott Wave concepts, trendlines, and price action. It is provided for educational purposes only and should not be considered financial or investment advice. Markets can invalidate technical patterns at any time. Always use appropriate risk management and independent confirmation before making trading or investment decisions.