How Should Traders Read the Nifty Spot View Today?
About Nifty
Nifty 50 is India’s benchmark stock market index, representing the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange (NSE). It is widely tracked by investors for market direction and is used for derivatives trading including futures and options. Traders often use moving averages and support-resistance zones for short-term strategies.
CMP: 25,773.15
20H EMA: 24,767 | 40H EMA: 24,737
20D EMA: 24,738 | 40D EMA: 24,790
24,745 — 24,673 — 24,621 — 24,520 — 24,404
24,970 — 25,090
Trading View Summary
For today’s intraday session, the 24,673–24,621 support zone will be critical. If this zone holds on a one-hour sustain and daily closing basis, the index may extend gains toward 24,970 and higher levels. However, if the support breaks on both sustain and closing basis, downside risk could open toward 24,510–24,404 and possibly lower. Traders should recognize the importance of this zone before taking directional bets.
Investor Takeaway
The immediate bias remains tied to the 24,673–24,621 zone. Holding this range sustains bullish momentum, while a breakdown reintroduces bearish risk. Traders should watch price action closely around this level to frame their strategies for the day.
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.
