Nifty 50 Views as of now EOD 05/12/2024

I feel now it is necessary to express and reveal fresh zones about the Nifty 50 Index.

As shown, in the chart drawing, Nifty 50 did manage to approch the historical support zone and since then it has bounced back quite a distance now. Presently, I am disclosing only Monthly Time Frame(MTF) zones, as they are normally significant zones as far as my understanding is concerned. To be proactive and early in decision making, one can also mark weekly significant zones which may help developing an hypothesis towards the direction.