Will Nifty Hold Above The 24,225 Support Zone Today?

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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.

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
Nifty is trading comfortably above both the hourly and daily exponential moving averages, indicating that the broader short-term trend remains constructive despite near-term volatility.

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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
Holding above the primary support zone would keep the short-term bullish structure intact.

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
A decisive move above these levels could strengthen bullish momentum during the session.

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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.
Traders should wait for confirmation around the key support zone before initiating fresh intraday positions.

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.

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