Nifty Pre-Open: Channel Break Turns Bias Weak

Nifty gave a rising-channel breakdown yesterday, breaching the 24,150–24,130 support and settling near 24,080. The structure that looked bullish till yesterday has changed suddenly, with bears now in control. Given yesterday's wide range, today could see a broad, ranging session. The 24,120–24,200 zone acts as the immediate resistance cluster — a 30-min closing break above 24,200 would turn the tables back in bulls' favour. Until then, the bias for the day stays sideways to weak, with bears once again eyeing the 24,010 rising-window support.

has given a trendline breakout on the hourly chart with volume buildup. Watch for a move toward the next resistance at 1,745 provided the support of 1675 holds. When a structure that looked bullish breaks down suddenly, it's a reminder that trend confirmation needs constant re-checking — markets don't owe yesterday's bias any loyalty today. Disclaimer: This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212