Nifty Intraday Support & Resistance Levels for 05.08.2024

On Friday, Nifty opened gap down, took support at the 15m demand zone mentioned in the previous post, and bounced up more than 100 points before closing at 24717.70 (293 points negative). The weekly trend (50 SMA) is overbought, and the daily trend (50 SMA) is positive.

Support Levels:
Near Demand/Support Zone (30m): 24624 - 24657
Major Demand/Support Zone (125m): 24296 - 24426

Resistance Levels:
Near Supply/Resistance Zone (125m): 24956 - 25031