Nifty 50: Market Structure Break on 60-Hour Timeframe

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Market Structure Break: The 60-minute timeframe shows a clear structural break, pushing prices into a premium zone.
Premium to Discount Retracement: Given the overextended nature of the premium zone, a retracement to a discount zone is expected.
Potential Reversal: The retracement could lead to a reversal, where market momentum shifts, creating a more balanced trading environment.
Consolidation Point: The market is likely to consolidate around the 23400 level, a critical juncture that corresponds with the FVG and discount zone, serving as a potential springboard for future upward movement.
Traders should monitor the price action closely in the discount zone for signs of reversal confirmation.

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Giao dịch đang hoạt động

The market is not able to hold 23,000; it looks like it's heading for the 22,800 support zone.

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Ghi chú

The market is rejecting off the 1-hour FVG. If it doesn't hold 22,930, it will target levels around 22,800.

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Ghi chú

This is my first time posting an idea on TradingView. I'm not in any trades—I'm just analyzing the price action.

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Ghi chú

I think the market will chop and show some retracement around the 23,240–23,270 resistance before heading towards 23,400.