NIFTY Spot View: 02/08/2024
CMP: 25010.90
Moving AVG (EMA) 20 Hour & 40 Hour: 24955 & 24870
Moving AVG (EMA) 20 Day & 40 Day: 24529 & 24109
Support & Downside Range: 24820—24690—24570—24400--24280
Resistance & Upside Range: 25079--25260--25350
Short Term Trend Reversal Level: 24075
Trading View Summary:
• Ahead of GLOBAL weakness in today's intraday trading session key level to watch is 24820—24690 support zone.
• After opening if 24820—24690 manage to hold on closing basis then we may once again see a shallow pullback move and we may immediate starts upside move towards 25079 & above levels.
• Whereas after opening if 24820—24690 fail to hold on closing basis then for next 2-4 trading session we may see sideways to weak market and in that case nifty can retest minimum 24570 to 24400 and maximum 24280 spot levels.
• So understand the importance of 24820—24690 support on closing basis & act accordingly
