Nifty Intraday Support & Resistance Levels for 08.10.2024
On Monday, Nifty opened with a gap up and touched a high of 25,143, but the momentum couldn’t hold. It fell sharply, dropping 449 points from the top and hitting a low of 24,694.35. Nifty eventually closed at 24,795.75, losing 218 points from the previous session. Despite briefly breaking below the key support of 24,753, it managed to close above it. If Nifty breaks this level again, we could see further declines toward 24,636 or even 24,420. However, Nifty is also near the 61.8% Fibonacci level (24,804.25), so if it holds above 24,753, we may see a short-term bounce. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) has turned sideways.
Demand/Support Zones:
Near Demand/Support Zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone)
Far Demand/Support Zone (Daily): 24,522.95 - 24,636.35
Far Demand/Support Zone (Daily): 24,099.70 - 24,196.50
Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75
Supply/Resistance Zones:
Near Supply/Resistance Zone (15m): 25,420 - 25,485.05
Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60
Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
Stay cautious as we approach these critical levels!
Demand/Support Zones:
Near Demand/Support Zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone)
Far Demand/Support Zone (Daily): 24,522.95 - 24,636.35
Far Demand/Support Zone (Daily): 24,099.70 - 24,196.50
Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75
Supply/Resistance Zones:
Near Supply/Resistance Zone (15m): 25,420 - 25,485.05
Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60
Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
Stay cautious as we approach these critical levels!
Penerbitan berkaitan
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