Nifty Pre-Open: Watch for Positive Divergence Play

Nifty has slipped below the 23,900–23,950 base, settling near 23,779, with the falling trendline resistance now placed lower near 23,868–23,950. A notable development on the RSI: price has made a fresh low while RSI has not — a positive divergence that can sometimes precede a bounce, though it needs price confirmation before being treated as reliable. Resistance Cluster 23,780–23,820 zone then 23,868, then 23,950., Support 23,714 and 23,650. The bias stays negative as long as the 23,868–23,950 resistance zone holds — a bounce need not come right away and could still emerge only after a further test of the 23,714–23,650 supports. The RSI positive divergence is worth watching closely, but it needs price confirmation via a close above 23,868–23,950 before being treated as a reliable reversal signal for the day.

has held its falling trendline resistance for a fourth time, making that level notably strong. A breakout of this trendline, especially alongside a broader market recovery, would be a setup worth tracking rather than something to act on pre-emptively. A resistance level tested and rejected multiple times grows stronger with each attempt — but that also means its eventual breakout, if it comes, tends to carry more significance. 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.