Nifty forms symmetrical triangle; Breakout above 22,550 could spark rally

The Nifty 50 index has been consolidating within a symmetrical triangle pattern on the hourly chart, signaling a potential breakout. Over the past three days, the index has largely traded in a narrow range between 22,350 and 22,550, reflecting indecisiveness among market participants.

A decisive move above 22,550 could trigger fresh buying momentum, leading to a short-term rally as bullish sentiment strengthens. On the flip side, a breakdown below 22,350 could dampen market sentiment, potentially pushing the index lower.

Traders and investors are closely monitoring these key levels, as a breakout in either direction could set the tone for the coming sessions. With global cues, institutional flows, and sectoral movements playing a crucial role, market participants remain watchful of any triggers that could drive Nifty out of its consolidation phase.

As volatility hovers around key resistance and support zones, all eyes are on the next decisive move that could define Nifty’s short-term trajectory.