NIFTY Spot View: 12/08/2025
CMP: 24487.40
Moving AVG (EMA) 20 Hour & 40 Hour: 24527 & 24550
Moving AVG (EMA) 20 Day & 40 Day: 24765 & 24851
Support & Downside Range: 243337.50—24185---23900
Resistance & Upside Range: 24650—24750—24852--24958
Short Term Trend Reversal Level: --
Trading View Summary:
• Day before yesterday nifty posted a low of 24337.50 and from this low till yesterday high of 24702 1hr chart showing impulsive formation and so far nifty has retraced dot 66.8% of the total move yesterday.
• Now for today's session 24450 is key level to watch on daily closing basis ideally if bulls are back and 24337.50 is our bottom then bulls must defend 24450 on daily closing here on and it should not touch 24337.50 and should try to move above 24650 to give us short covering rally.
• If nifty closes below 24450 and touches 24337.50 then we are not yet done with the correction so understand the importance of 24450 on closing basis and 24337.50 on running basis support.
