Sustained strength above 55,200 with high momentum would nullify the Evening Star setup and revive bullish bias toward 59,600 levels.
📉 Bearish Scenario:
If the bearish Evening Star pattern plays out completely, a continued decline toward 52,500, followed by 50,000–49,500, looks probable.
A sustained breakdown below 49,500 would confirm a deeper correction, targeting 47,000–46,800.

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If the index fails to hold above 16,000 and sustains below 15,800 on closing basis, the Inverted Head and Shoulders setup would fail, leading to extended downside toward 15,200–15,000 levels. This would temporarily negate the bullish bias.

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If Nifty fails to defend the 23,400 support zone and sustains below it, a deeper correction toward 23,000 or even 22,500 could materialize. This would neutralize the breakout attempt and bring the index back inside the broader range, calling for cautious positioning.

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