Can NIFTY Hold The 23,915–23,850 Support Zone On 29 July 2026?

NIFTY starts today's session at 23,985.35, trading close to its important hourly and daily exponential moving averages (EMAs). The immediate focus remains on the 23,915–23,850 support zone. Holding above this area could pave the way for a recovery towards higher resistance levels, while a sustained breakdown may trigger fresh selling pressure.

Key Technical Levels

• Current Market Price (CMP): 23,985.35
• 20-Hour EMA: 23,956
• 40-Hour EMA: 23,975
• 20-Day EMA: 24,027
• 40-Day EMA: 23,983

NIFTY is trading around all four EMA levels, indicating a balanced market where the next directional move is likely to be determined by price action around the key support zone.

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Support And Resistance Levels

Support Zones

• 23,915–23,850 (Major Intraday Support)
• 23,809–23,740
• 23,606–23,569

Resistance Zones

• 24,070
• 24,115–24,175
• 24,250

These price levels are expected to act as key decision points during today's trading session.

Intraday Trading Strategy

Bullish Scenario: If NIFTY sustains above the 23,915–23,850 support zone after the opening, buying momentum could lift the index towards 24,070. A decisive move above this level may extend gains towards 24,115–24,175, with 24,250 as the next resistance.

Bearish Scenario: If the 23,915–23,850 support zone breaks on a sustained basis, downside pressure could increase towards 23,809–23,740. Further weakness may drag the index towards the lower support zone of 23,606–23,569.

Technical Outlook

With NIFTY trading close to all major hourly and daily EMAs, today's session could witness increased volatility around key technical levels. Traders should monitor price behaviour near the support zone, as it is likely to determine whether the market attempts a recovery or extends its corrective move.

Investor Takeaway

Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Registered Investment Adviser, observes that the 23,915–23,850 support zone is the most critical level for today's NIFTY session. Holding above this range could encourage a move towards 24,070 and higher resistance levels, while a sustained breakdown may strengthen bearish momentum. Traders should wait for confirmation before initiating fresh positions and always follow disciplined risk management.

Read more daily market analysis and trading insights at Indian-Share-Tips.com.

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

Disclaimer: This NIFTY Spot View is provided for educational and informational purposes only and should not be considered investment advice. Intraday markets are highly volatile, and technical levels may change during the trading session. Investors and traders should use appropriate risk management and consult a SEBI Registered Investment Adviser before making investment decisions.