Nifty Intraday Support & Resistance Levels for 22.08.2024

On Wednesday, Nifty surpassed the previous day’s high, reaching 24787.95 before closing at 24770.20, which is within the 75m Supply Zone mentioned in the last post. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways.

Support Levels:
Near Demand/Support Zone (125m): 24543 - 24605
Far Demand/Support Zone (30m): 24389 - 24443
Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340

Resistance Levels:
Near Supply/Resistance Zone (75m): 24754 - 24835 (current price is within this zone)
Far Supply/Resistance Zone (125m): 24956 - 25031