Nifty 50 Technical Analysis - 4th April 2024 Santu Saha

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Nifty 50 Technical Analysis - 4th April 2024

## Market Overview

Nifty 50 is exhibiting key support and resistance levels, providing potential trading insights for tomorrow's session.

### Support Levels

**1. Support Levels:**
- **22,400:** Initial support level for Nifty 50. If the market opens above this level, it may act as support.

### Resistance Levels

**1. Resistance Levels:**
- **22,520:** Current resistance level for Nifty 50. A breakout above this level could signal an upside movement.

### Technical Insights

#### Support Analysis

Nifty 50 is expected to find support at 22,400, with this level potentially acting as a support if the market opens above it. Traders should monitor price action around this level for potential entry opportunities.

#### Resistance Analysis

The current resistance level for Nifty 50 is at 22,520. A decisive breakout above this level could indicate further upside potential in the market. Traders should watch for confirmation of a breakout before considering bullish positions.

### Trading Recommendation

Traders are advised to exercise caution and wait for confirmation before initiating new positions. A breakout above 22,520 or breakdown below 22,400 could present trading opportunities. It's essential to implement proper risk management strategies to mitigate potential losses.

### Disclaimer: Risk Management

Trading involves inherent risks, and traders should conduct thorough analysis and adhere to strict risk management protocols to safeguard their capital.