NIFTY Nifty 50 IndexNSE:NIFTYsagarchauanNIFTY Daily Chart Outlook NIFTY is currently trading within a falling channel and approaching a key trendline resistance. 📈 Bullish Scenario If NIFTY breaks above the descending trendline with strong momentum and sustains the breakout, it could trigger a move towards the 24,750 resistance zone. This area also aligns with the 0.61–0.65 Fibonacci retracement zone, making it an important upside target. 📉 Bearish Scenario If the index fails to break the trendline and faces rejection from current levels, selling pressure may resume. In that case, NIFTY could revisit the 23,000 support zone. 🎯 Key Levels Breakout Confirmation: Descending trendline resistance Upside Target: 24,750 Downside Support: 23,000 Summary: A breakout above the falling channel could open the door for a rally towards 24,750, while rejection from the trendline may lead to another decline towards the 23,000 support area.