Nifty Trading Tip : 31 Jan 2025

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NIFTY Spot View: 31/01/2025
CMP: 23249.50
Moving AVG (EMA) 20 Hour & 40 Hour: 23150 & 23130
Moving AVG (EMA) 20 Day & 40 Day: 23305 & 23580
Support & Downside Range: 23138--22980—22910 zone, 22786
Resistance & Upside Range: 23347—23425—23630--23800
Short Term Trend Reversal Level: -- 22786

Trading View Summary:
•  For today's intraday trading session key level to watch is 23138 as trading support & 22980—22910 as direction support.
•  As long as nifty is trading above the given key supports intraday trend remains bullish and buy on dips for upside minimum 23425 to 23630 and maximum 23800 spot levels.
•  Whereas after opening if nifty breaks 23138 then trend turn sideways ahead of tomorrow BUDGET and if it breaks 22980—22910 on closing basis then trend turns weak and we may see selling pressure to build in the market ahead of budget.
•  so understand the importance of 23138 trading support & 22980—22910 as closing support.

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