"Nifty 50 Compression Zone: Breakout Setup Between 24,300–24,700Nifty 50 IndexNSE:NIFTYKets2704The Nifty 50 is currently consolidating within a well-defined range of 24,300 (support) to 24,700 (resistance). This compression zone is backed by strong Open Interest clustering on both Call and Put sides, suggesting a potential breakout setup. My idea focuses on visualizing this range with floating entry labels, CE/PE overlays, and mutually exclusive signal logic to guide intraday decisions. --- 🔍 Technical Setup | Parameter | Value / Observation | |----------------------|------------------------------------------------| | Support Zone | 24,300–24,400 | | Resistance Zone | 24,700–24,740 | | Daily RSI | Positive crossover, holding above 50 | | Candlestick Signal | Inverted hammer + long upper shadows | | OI Clustering | Highest Call & Put OI at 24,500 | | EMA Structure | Price hovering near 10-day and 50-day EMA | Bullish Breakout Plan - Trigger: Sustained close above 24,740 - Target Zones: 24,900 → 25,200 - Entry Label: Floating CE overlay with momentum confirmation - Stop-loss: Below 24,480 🔸 Bearish Breakdown Plan - Trigger: Breach below 24,300 - Target Zones: 24,100 → 23,950 - Entry Label: PE overlay with RSI divergence confirmation - Stop-loss: Above 24,450