Will Nifty Hold Above The 24,225 Support Zone Today?
About This Analysis
Nifty begins the trading session with a positive technical bias after holding above its short-term moving averages. The immediate focus remains on the 24,225–24,185 support zone, which is likely to determine the market's intraday direction. Sustaining above this range could encourage fresh buying, while a breakdown may trigger profit booking toward lower support levels.
Nifty begins the trading session with a positive technical bias after holding above its short-term moving averages. The immediate focus remains on the 24,225–24,185 support zone, which is likely to determine the market's intraday direction. Sustaining above this range could encourage fresh buying, while a breakdown may trigger profit booking toward lower support levels.
Current Technical Position
- Current Market Price (CMP): 24,317.15
- 20-Hour EMA: 24,184
- 40-Hour EMA: 24,115
- 20-Day EMA: 24,074
- 40-Day EMA: Approximately 24,012
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Key Support Levels
The most important support area for today's session is:
- Primary Support Zone: 24,225 – 24,185
- Secondary Support Zone: 24,140 – 24,080
- Major Support: 23,954
Resistance Levels To Watch
If buying momentum continues, traders should monitor the following resistance levels:
- Immediate Resistance: 24,398
- Next Resistance Zone: 24,505 – 24,535
- Major Upside Zone: 24,591 – 24,677
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Intraday Trading Strategy
For today's trading session:
- If the 24,225–24,185 support zone holds after the opening, Nifty may attempt an advance toward 24,398, followed by 24,505–24,535 and potentially 24,591–24,677.
- If the support zone fails to hold on a sustained basis, downside pressure may increase toward 24,140–24,080, with further support around 23,954.
Investor Takeaway
Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Registered Investment Adviser, observes that the 24,225–24,185 zone is the defining technical level for today's session. As long as this support remains intact, the probability of testing higher resistance levels remains favourable. A sustained breakdown below this zone, however, could invite fresh selling pressure. Traders should combine disciplined risk management with confirmation from price action before taking positions.Read Free market insights at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
Written by Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
Disclaimer: This technical analysis is provided for educational and informational purposes only. Support and resistance levels are based on technical observations and do not guarantee future market movements. Investors and traders should conduct their own analysis or consult a SEBI Registered Investment Adviser before making investment decisions.
Disclaimer: This technical analysis is provided for educational and informational purposes only. Support and resistance levels are based on technical observations and do not guarantee future market movements. Investors and traders should conduct their own analysis or consult a SEBI Registered Investment Adviser before making investment decisions.
