Nifty Intraday Support & Resistance Levels for 07.08.2024
On Tuesday, Nifty opened gap up, entered the 15m Supply zone mentioned in the last post, and then fell 400 points from the top before closing at 23992.50. The weekly trend (50 SMA) is positive, and the daily trend (50 SMA) is now sideways.
Support Levels:
Major Demand/Support Zone (Daily): 23350 - 23667
Resistance Levels:
Near Supply/Resistance Zone (30m): 24266 - 24348
Far Supply/Resistance Zone (30m): 24686 - 24745
Far Supply/Resistance Zone (75m): 24754 - 24835
Note: As of writing this, GIFTNIFTY is trading 280 points positive, indicating we might see a gap-up opening, and the near 30m Supply zone may get violated.
Support Levels:
Major Demand/Support Zone (Daily): 23350 - 23667
Resistance Levels:
Near Supply/Resistance Zone (30m): 24266 - 24348
Far Supply/Resistance Zone (30m): 24686 - 24745
Far Supply/Resistance Zone (75m): 24754 - 24835
Note: As of writing this, GIFTNIFTY is trading 280 points positive, indicating we might see a gap-up opening, and the near 30m Supply zone may get violated.
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