#nifty50

After completing a 5-wave downside structure, Nifty appears to be entering the early stages of a potential C-wave recovery. Although today's session closed with a red candle, the underlying volume profile indicates continued buying interest at lower levels, suggesting that bulls are still active despite intraday weakness.
Price has respected the key support zone near 23,100–23,250, and the recent rebound from this area strengthens the possibility of an upward corrective move. As long as this support remains intact, the index may continue advancing toward the immediate resistance zone around 24,270–24,440. A sustained breakout above this hurdle could open the path toward the higher supply zone near 25,200–25,350.
For tomorrow, we should watch for follow-through buying and a strong close above today's high as confirmation of bullish momentum. The broader structure remains constructive, with volume behavior favoring further upside participation in the sessions ahead. (NFA)