NIFTY Spot View: 19/12/2024
CMP: 24198.85
Moving AVG (EMA) 20 Hour & 40 Hour: 24362 & 24426
Moving AVG (EMA) 20 Day & 40 Day: 24401 & 24412
Support & Downside Range: 24050—23800—23600--23263
Resistance & Upside Range: 24400—24500 zone, 24700--24860
Short Term Trend Reversal Level: --
Trading View Summary:
• In last couple of session we saw extreme wild swing with volatile move. In yesterday's session nifty manage to hold 24180 spot levels on closing basis. But right now GIFTNIFTY showing big gap down sign.
• Entire up move from 23263 low is overlapping in formation which has created confusion to pick the direction of the market.
• Now for today's trading session key level to watch is 23800 spot levels which is final support level for bulls to stay in the game of relief bounce. After opening if 23800 manage to hold and gives POSITIVE DAILY CLOSE then once again bulls have chance and they can move towards 24860 and above levels for extension bounce move.
• Whereas after opening if 23800 breaks on sustain basis or closing basis then we are in the middle of wave C of last leg of correction and for next couple of session we may see the selling pressure remains in the market.
CMP: 24198.85
Moving AVG (EMA) 20 Hour & 40 Hour: 24362 & 24426
Moving AVG (EMA) 20 Day & 40 Day: 24401 & 24412
Support & Downside Range: 24050—23800—23600--23263
Resistance & Upside Range: 24400—24500 zone, 24700--24860
Short Term Trend Reversal Level: --
Trading View Summary:
• In last couple of session we saw extreme wild swing with volatile move. In yesterday's session nifty manage to hold 24180 spot levels on closing basis. But right now GIFTNIFTY showing big gap down sign.
• Entire up move from 23263 low is overlapping in formation which has created confusion to pick the direction of the market.
• Now for today's trading session key level to watch is 23800 spot levels which is final support level for bulls to stay in the game of relief bounce. After opening if 23800 manage to hold and gives POSITIVE DAILY CLOSE then once again bulls have chance and they can move towards 24860 and above levels for extension bounce move.
• Whereas after opening if 23800 breaks on sustain basis or closing basis then we are in the middle of wave C of last leg of correction and for next couple of session we may see the selling pressure remains in the market.
