NIFTY Spot View: 14/11/2024
CMP: 23559.05
Moving AVG (EMA) 20 Hour & 40 Hour: 23886 & 24014
Moving AVG (EMA) 20 Day & 40 Day: 24318 & 24571
Support & Downside Range: 23500—23450 Zone, 23300--22975
Resistance & Upside Range: 24000—24110--24260—24340 Zone
Short Term Trend Reversal Level: --
Trading View Summary:
• We are seeing continues selling pressure in our market and despite of extreme oversold breath sentiments we are not even getting the technical pullback which required.
• For today's intraday trading session key level to watch is 23500—23450 support zone. This support zone is imp to watch on intraday 1hr sustain basis as well as closing basis to get the idea of the next direction.
• After opening if 23500—23450 manage to hold then chance of bounce is there due to extreme oversold breath and we can move upside towards minimum 24000 to 24110 and maximum 24260 to 24340 spot levels.
• Whereas after opening if 23500—23450 breaks on 1hr sustain basis then we may fall more downside towards minimum 23300 to max 22975 spot levels.
• Note: close below 23500-23450 more downside RISK of 1000 to 1500 points opens
