Simple Analysis on Nifty

This is Monthly timeframe on Nifty 50 index.

We have seen strong momentum since 2020 bottom and it have retraced to 0.23 fibo level.
In consolidation for months and now it is in very strong resistance zone.
Critical levels, make or break. My view is bullish backed by the last month's candle closing.

This post is for information purpose only.