NIFTY Spot View: 07/11/2024
CMP: 24484.05
Moving AVG (EMA) 20 Hour & 40 Hour: 24258 & 24245
Moving AVG (EMA) 20 Day & 40 Day: 24548 & 24740
Support & Downside Range: 24260—24175--24060
Resistance & Upside Range: 24600--24760--25050
Short Term Trend Reversal Level: -- 23816
Trading View Summary:
• So far market has given indication that it has formed a short term bottom with double bottom formation around 23800 zone. Whereas upside it's facing multiple resistance around 24500 spot levels.
• Now for today's intraday trading session key level to watch is 24260 as support. As long as NIFTY is trading above this support its trend remains bullish for upside minimum 24600 to 24760 and maximum 25050 spot levels.
• After opening if 24260 breaks on 1hr sustain basis then we may spend remaining hours of the days between 24060 to 24260 spot levels.
