10/07/2025
π NIFTY MID SELECT β 15 Min Chart Analysis (as of 10 July), CMP: 13,267.10 | Change: +4.75 (+0.04%)
RSI: 35.38 (Weak & Near Oversold)
π Technical Breakdown
1οΈβ£ Descending Triangle Formation
Price has formed lower highs since the ATH zone at 13,537.80, sloping downward trendline is respected.
Support zone near 13,240β13,250 is holding so far (highlighted purple box).
2οΈβ£ Demand Zone Tested
This is the second test of demand zone (purple zone), with strong wicks indicating buyers trying to defend.
However, every bounce is getting weaker β probability of breakdown increases on next attempt.
3οΈβ£ RSI Weakness
RSI is consistently below 40, currently at 35.38.
No bullish divergence visible β indicating price is still under pressure.
π§ Key Technical Levels:
πΌ All Time High 13,537.80
π» Resistance Trendline Falling from ~13,440
πͺ Demand Support 13,240β13,250
π Breakdown Target ~13,100 / 12,950
βοΈ Strategy Outlook
π₯ Scenario 1: Breakdown (High Probability)
π» If index breaks below 13,240 with volume:
Momentum sell-off may follow.
Downside target: 13,100β12,950.
Ideal for Put Options or Futures short.
π© Scenario 2: Demand Holds (Low Probability)
β οΈ Only if price holds 13,240 and breaks trendline:
Look for reversal signs + RSI > 45.
Could reattempt 13,400β13,450 zone.
π― Trade Bias: Bearish
β οΈ Price is pressured near key support with weakening bounces.
Structure favors breakdown. Wait for 15-min candle close below 13,240 for confirmation.