What pattern did the Nifty 50 form on the daily chart?

The Nifty 50 formed a spinning top pattern on the daily chart, indicating selling pressure at higher levels.

What did the market action indicate according to the analysis?

The market action indicated an uptrend continuation pattern with minor volatility at the highs.

What level did the Nifty 50 break out of decisively?

The Nifty 50 broke out decisively from the crucial hurdle of around 24,500 levels, leading to a sharp uptrended movement.

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Nifty 50 Breaks Key Resistance, Signals Bullish Momentum

21 Oct

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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

Nifty 50 Breaks Key Resistance, Signals Bullish Momentum

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.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.