NIFTY Spot View: 07/08/2024
CMP: 23992.55
Moving AVG (EMA) 20 Hour & 40 Hour: 24261 & 24439
Moving AVG (EMA) 20 Day & 40 Day: 24452 & 24128
Support & Downside Range: 23960--23892—23875 Zone, 23500--23100
Resistance & Upside Range: 24350—24490--24675
Short Term Trend Reversal Level: --
Trading View Summary:
• In today's gap up opening key level to watch is 23960—23892 support zone & 24350-24385 as resistance zone.
• If nifty has formed a short term pause in ongoing selling then ideally today it should give a close at or above 24350—24385 spot levels.
• Whereas if nifty fail to close above 24350—24385 spot levels then still downside risk remains open for next couple of days.
