Nifty Intraday Support & Resistance Levels for 25.11.2024
On Friday, Nifty opened with a gap-up, hitting a low of 23359 in the first 15 minutes before a strong bull rally pushed it to a high of 23956.10, breaking the 15m Supply Zone and entering the 30m Supply Zone highlighted in the previous analysis. It closed at 23907.25, gaining an impressive 557 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative.
As highlighted in earlier posts, "If it holds the support (23350), we might see some bullish momentum till 23900 - 24250." Nifty delivered on this expectation, hitting the target of 23900. However, with the Daily Trend (50 SMA) still negative, caution is advised at levels above 24000 unless the trend turns positive and sustains.
Demand/Support Zones
Near Demand/Support Zone (15m): 23661.75 - 23731.25
Far Demand/Support Zone (75m): 23447.15 - 23578.60
Far Support (61.8% FIBO): 23189.88
Far Demand/Support Zone (Daily): 22642.60 - 22910.15
Supply/Resistance Zones
Near Supply/Resistance Zone (Daily): 24004.60 - 24336.80
Near Supply/Resistance Zone (75m): 24106.90 - 24242.00
Far Supply/Resistance Zone (75m): 24447.65 - 24537.60
Far Supply/Resistance Zone (75m): 24636.75 - 24741.45
As highlighted in earlier posts, "If it holds the support (23350), we might see some bullish momentum till 23900 - 24250." Nifty delivered on this expectation, hitting the target of 23900. However, with the Daily Trend (50 SMA) still negative, caution is advised at levels above 24000 unless the trend turns positive and sustains.
Demand/Support Zones
Near Demand/Support Zone (15m): 23661.75 - 23731.25
Far Demand/Support Zone (75m): 23447.15 - 23578.60
Far Support (61.8% FIBO): 23189.88
Far Demand/Support Zone (Daily): 22642.60 - 22910.15
Supply/Resistance Zones
Near Supply/Resistance Zone (Daily): 24004.60 - 24336.80
Near Supply/Resistance Zone (75m): 24106.90 - 24242.00
Far Supply/Resistance Zone (75m): 24447.65 - 24537.60
Far Supply/Resistance Zone (75m): 24636.75 - 24741.45
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.