Nifty 50 Index Analysis on 1 Day TF.Nifty 50 IndexNSE:NIFTYkiranshilawane1234The chart of the Nifty 50 Index on the daily timeframe shows a clear shift from an earlier uptrend into a corrective phase, followed by a potential base formation. After peaking near the 26,000–26,500 zone, the index experienced a sharp decline, breaking below its key moving average (orange line), which signals short-term bearish sentiment. The fall was aggressive, accompanied by increased volume, indicating strong selling pressure. However, the recent price action suggests stabilization. The index found support around the 22,500–23,000 region and has since rebounded, forming a series of higher lows. This indicates that buyers are gradually regaining control. Currently, the price is consolidating near the 23,800–24,000 zone, which is acting as an important demand area. The projected path on the chart suggests a bullish scenario, where the index may first retest support and then move upward. A decisive breakout above the 24,400–24,600 resistance zone, along with sustained volume, could confirm a trend reversal. If this happens, the index may target levels around 25,500 and higher. Overall, the structure hints at cautious optimism, but confirmation is still required. No Buy / No Sell Recommendation. Ask your Financial Advisor before taking actions.