Nifty Intraday Support & Resistance Levels for 23.08.2024

On Thursday, Nifty opened with a gap up and stayed positive throughout the day but couldn't surpass the opening high of 24867.35. Although it initially broke through the 75m supply zone mentioned in the last post, Nifty closed at 24811.50, which is still within the supply zone. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) is sideways.

Support Levels:
Near Demand/Support Zone (15m): 24722 - 24747
Far Demand/Support Zone (125m): 24543 - 24605
Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340

Resistance Levels:
Near Supply/Resistance Zone (75m): 24754 - 24835 (current price is inside the zone)
Far Supply/Resistance Zone (125m): 24956 - 25031
NIFTYniftyintradaysetupniftylevelsniftysupportandresistanceniftytrendSupply and DemandSupport and ResistanceTrend Analysis

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