Nifty Guide to follow to make profit

NIFTY Spot View: 15/04/2024

CMP: 22519.40

Moving AVG (EMA) 20 Hour & 40 Hour: 22627 & 22604

Moving AVG (EMA) 20 Day & 40 Day: 22378 & 22192

Support & Downside Range: 22370—22304—22244--22073

Resistance & Upside Range: 22525—22580 zone, 22780

Short Term Trend Reversal Level: -- 22780

Trading View Summary:

•  In today's intraday trading session key level to watch is 22370 spot.

•  After opening if 22370 manage to hold on 15 to 30 mins sustain basis than we may immediate tries to move upside towards 22525 to 22580 spot levels.

•  Whereas after opening if 22370 fail to hold on 15 to 30 mins sustain basis than we may see more intraday downside move towards minimum 22304 to maximum 22244 spot levels.

Global Reactions 

• Along with global market our market also gave a reaction on Isreal & Iran War news today.

• Now we have a key support zone to watch out on nifty to watch out and read this Event between Isreal & Iran.

• 22070—22000 spot level is a key support to watch here.

• If this support zone manage to hold on closing basis than this entire week than our market will ignore this event and out market will once again act on our own event which is LS election & most likely nifty may once again moves above 22780 spot levels which is current ATH.

• Whereas if nifty gives continues 1 to 2 days close below 22070—22000 spot levels than we have to assume that something is wrong and some new development can happen between Isreal & Iran situation. 

• So keep close eyes on 22070—22000 spot support to read this event between Isreal & Iran.