{"id":201115,"date":"2024-02-24T07:00:00","date_gmt":"2024-02-24T15:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=201115"},"modified":"2024-02-23T06:00:26","modified_gmt":"2024-02-23T14:00:26","slug":"nifty-50-reversal-attempt-failed","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/nifty-50-reversal-attempt-failed\/","title":{"rendered":"Nifty 50 Reversal Attempt Failed"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Nifty 50 Futures<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.investing.com\/indices\/india-50-futures\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Nifty 50<\/strong><\/a> Reversal Attempt Failed on the weekly chart. In this week&#8217;s market analysis, we observe a small bullish bar formation with a tail at the bottom. Despite attempts by bears to initiate a strong reversal, the bullish trend remains robust, resulting in a failed reversal. Notably, the Nifty 50 has achieved a bullish close above the significant milestone of 22,000, likely attracting more bullish activity at this level. Additionally, the daily chart of the Nifty 50 indicates a bullish breakout from a triangle pattern this week. However, post-breakout, the absence of strong follow-through bars suggests caution among bulls.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Nifty 50 futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> Nifty 50 chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Reversal-Attempt-Failed.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Reversal-Attempt-Failed-680x383.png\" alt=\"Nifty 50 Reversal Attempt Failed\" class=\"wp-image-201137\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Reversal-Attempt-Failed-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Reversal-Attempt-Failed-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Reversal-Attempt-Failed-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Reversal-Attempt-Failed-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Reversal-Attempt-Failed-2048x1152.png 2048w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<ul class=\"wp-block-list\">\n<li><strong>General Discussion<\/strong>\n<ul class=\"wp-block-list\">\n<li>Bulls can confidently enter long positions at the current level, given the successful close above the 22,000 mark and the failure of the micro double top pattern to trigger a reversal.<\/li>\n\n\n\n<li>Existing bullish positions should be maintained until the market reaches the measured move target, indicating continued bullish sentiment.<\/li>\n\n\n\n<li>Given the strength of the bull trend and the absence of reversal signals, bears should refrain from initiating short positions.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Deeper into Price Action<\/strong>\n<ul class=\"wp-block-list\">\n<li>The failure of bears to produce a follow-through bar after the formation of the micro double top highlights their weakness, further bolstering bullish sentiment.<\/li>\n\n\n\n<li>This lack of bearish momentum serves to reinforce the bullish bias in the market.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Patterns<\/strong>\n<ul class=\"wp-block-list\">\n<li>The failure of the micro double top pattern resembles a cup and handle pattern, implying a potential upward measured move based on the cup&#8217;s height.<\/li>\n\n\n\n<li>While the Nifty 50 has achieved a bullish close above 22,000, the success of this breakout hinges on the ability of bulls to generate a strong follow-through bar.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> Nifty 50 chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Triangle-Breakout.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Triangle-Breakout-680x383.png\" alt=\"Nifty 50 Triangle Breakout\" class=\"wp-image-201134\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Triangle-Breakout-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Triangle-Breakout-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Triangle-Breakout-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Triangle-Breakout-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Triangle-Breakout-2048x1152.png 2048w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>General Discussion<\/strong>\n<ul class=\"wp-block-list\">\n<li>On the daily chart, the Nifty 50 is currently attempting to break out of its existing trading range phase.<\/li>\n\n\n\n<li>Bulls may consider entering positions upon observing a strong bullish close or at the market open, given the bullish breakout from the triangle pattern.<\/li>\n\n\n\n<li>Some bulls may opt to await confirmation through a strong follow-through bar before committing to positions.<\/li>\n\n\n\n<li>Conversely, bears may seek to sell if the market forms a strong bearish bar, targeting the bottom of the triangle pattern.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Deeper into Price Action<\/strong>\n<ul class=\"wp-block-list\">\n<li>The market&#8217;s proximity to a significant round number initially suggested trading range price action.<\/li>\n\n\n\n<li>However, the breakout above this level indicates a higher probability of trend resumption.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Patterns<\/strong>\n<ul class=\"wp-block-list\">\n<li>The Nifty 50 appears to be following a market cycle, transitioning through breakout, channel, and trading range phases in succession.<\/li>\n\n\n\n<li>Traders should consider entering breakout positions if bulls manage to produce a strong follow-through bar, targeting the measured move based on the triangle pattern&#8217;s height.<\/li>\n\n\n\n<li>In the absence of strong follow-through by bulls and the emergence of strong bearish bars, the market is likely to remain within the trading range, necessitating a buy low, sell high strategy.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Nifty 50 Futures Nifty 50 Reversal Attempt Failed on the weekly chart. In this week&#8217;s market analysis, we observe a small bullish bar formation with a tail at the bottom. Despite attempts by bears to initiate a strong reversal, the bullish trend remains robust, resulting in a failed reversal. Notably, the Nifty 50 [&hellip;]<\/p>\n","protected":false},"author":12159,"featured_media":201137,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[136,1851],"tags":[1852],"class_list":{"0":"post-201115","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analysis","8":"category-nifty-50","9":"tag-nifty-50","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Reversal-Attempt-Failed.png","author_info":{"display_name":"Rishi","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/rishi\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/201115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/users\/12159"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=201115"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/201115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/201137"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=201115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=201115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=201115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}