NIfty 50 , Daily chart analyses , price approaching major suppor

Nifty 50 Index – Daily Chart Analysis (Feb 18, 2025)
1. Trend & Market Structure
The Nifty 50 index remains in a long-term uptrend, with a well-respected upward trendline providing dynamic support.
The market recently pulled back from its all-time highs (~27,000) and is now testing a critical support zone (~22,750 - 23,000).
The price is currently sitting at the trendline support, making this a key decision point for buyers and sellers.
2. Key Levels to Watch
Support:
22,750 - 23,000 → Strong horizontal support and trendline intersection.
21,500 - 22,000 → Next major support if breakdown occurs.
Resistance:
24,500 - 25,000 → First hurdle if the market rebounds.
27,000+ → Major upside target if the trend continues.
3. Potential Trading Scenarios
📈 Bullish Scenario (Trendline Holds & Rebound)

If buyers step in at the current trendline, we could see a bounce back toward 24,500 - 25,000.
A breakout above 25,000 would confirm continuation of the long-term bullish trend.
📉 Bearish Scenario (Breakdown Below Support)

A break below 22,750 would indicate a loss of bullish momentum, potentially leading to a drop toward 21,500 - 22,000.
If further selling pressure increases, a trend reversal could be confirmed.
4. Volume & Market Sentiment
Volume is currently stable but not showing strong buying interest yet.
A surge in volume near the trendline could confirm whether bulls will defend this level.
Conclusion
Key Decision Point: 22,750 - 23,000 (Buyers need to defend this area).
Bullish Bias: Holding the trendline could lead to another rally toward new highs.
Bearish Risk: A breakdown could lead to a deeper pullback below 22,000.