Nifty Intraday Support & Resistance Levels for 26.12.2024
On Tuesday, Nifty opened flat to positive, climbing to a high of 23,867.65 as it entered the 15m supply zone. However, selling pressure pulled it back to a low of 23,685.15. It ended the day at 23,727.65, losing 25 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative.
Demand/Support Zones
Near Demand/Support Zone (15m): 23,537.35 - 23,632.30
Near Demand/Support Zone (75m): 23,447.15 - 23,578.60 (tested)
Far Support Level: 23,263 (low of 21st November 2024)
Far Support Level: 23,189.88 (61.8% FIBO retracement)
Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15
Supply/Resistance Zones
Near Supply/Resistance Zone (75m): 23,892.70 - 23,993.90
Far Supply/Resistance Zone (Daily): 24,149.85 - 24,394.45
Near Supply/Resistance Zone (Weekly): 24,567.65 - 25,234.05 (tested)
Outlook
Nifty's movement on Tuesday highlights the impact of the 15m supply zone resistance. If the near-demand zones hold, we may see a recovery toward 23,900 or higher levels. However, a break below the 75m demand zone could lead to further downside.
Demand/Support Zones
Near Demand/Support Zone (15m): 23,537.35 - 23,632.30
Near Demand/Support Zone (75m): 23,447.15 - 23,578.60 (tested)
Far Support Level: 23,263 (low of 21st November 2024)
Far Support Level: 23,189.88 (61.8% FIBO retracement)
Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15
Supply/Resistance Zones
Near Supply/Resistance Zone (75m): 23,892.70 - 23,993.90
Far Supply/Resistance Zone (Daily): 24,149.85 - 24,394.45
Near Supply/Resistance Zone (Weekly): 24,567.65 - 25,234.05 (tested)
Outlook
Nifty's movement on Tuesday highlights the impact of the 15m supply zone resistance. If the near-demand zones hold, we may see a recovery toward 23,900 or higher levels. However, a break below the 75m demand zone could lead to further downside.
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