How to Read Nifty Spot Levels and Key Support Resistance Zones Today?

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#NIFTY Spot View

CMP: 25579.60
Moving AVG (EMA) 20 Hour & 40 Hour: 24624 & 24666
Moving AVG (EMA) 20 Day & 40 Day: 24735 & 24800
Short Term Trend Reversal Level: --
Support & Downside Range:
24520 — 24480 zone, 24400 — 24330 — 24175
Resistance & Upside Range:
24760 — 24860 — 25025

Trading View Summary

  • In the weekly expiry session, NIFTY witnessed a steep sell-off in the second half, retracing 0.66% at yesterday’s low.
  • For today’s session, the 24520—24480 support zone is the key level to watch.
  • If this zone holds after opening, NIFTY may once again move upwards towards 24760 and higher levels.
  • If 24520—24480 breaks and sustains for 30 minutes to 1 hour, further downside is likely towards 24400—24330 and possibly 24175.
  • Thus, the 24520—24480 zone is crucial for determining market direction today.
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.

Written by Indian-Share-Tips.com, which is a SEBI Registered Advisory Services

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