On Thursday, Nifty opened negative, attempting a recovery with a high of 24675.25, but succumbed to selling pressure, hitting a low of 24527.95. It closed at 24548.70, losing 93 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) stays positive.
Demand/Support Zones
Near Demand/Support Zone (30m): 24330.20 - 24368.30
Far Demand/Support Zone (30m): 24140 - 24187.05
Far Demand/Support Zone (75m): 23447.15 - 23578.60
Supply/Resistance Zones
Near Supply/Resistance Zone (15m): 24772.60 - 24857.75
Near Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 (Tested)
Far Supply/Resistance Zone (Daily): 25739.20 - 25907.60
Far Supply/Resistance Zone (Daily): 26151.40 - 26277.35
Resistance at 24700: Nifty is struggling to break this level. A failure to sustain above it may lead to a drop toward the 24370 zone or lower.