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Nifty 50 Breaks Key Resistance, Signals Bullish Momentum
21 Oct
Summary
- Nifty 50 formed a spinning top pattern, indicating selling pressure at higher levels
- Market action indicates an uptrend continuation pattern with minor volatility at the highs
- Decisive breakout of the crucial hurdle of around 24,500 levels, leading to a sharp uptrend
According to the analysis, on October 22, 2025, the Nifty 50 index formed a reasonable positive candle on the daily chart with a long upper shadow. This market action technically indicates an uptrend continuation pattern with minor volatility at the highs.
The report further states that the market has observed a decisive breakout of the crucial hurdle of around 24,500 levels as per the daily and weekly charts. This breakout has led to a sharp uptrended movement, which is considered a positive indication.
The senior technical research analyst at HDFC Securities, Nagaraj Shetti, has commented that the Nifty 50 is in a sharp uptrended movement post the breakout, suggesting an uptrend continuation pattern with minor volatility at the highs.
