On Friday, Nifty opened gap-down, touched a high of 23,292.10, and slipped to a low of 23,100.35, entering the 30m Demand Zone. However, it found support and bounced back, closing at 23,203.20, down 108 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative.
Demand/Support Zones
Near Demand/Support Zone (Daily): 21,791.95 - 22,910.15
Supply/Resistance Zones
Near Supply/Resistance Zone (30m): 23,396.85 - 23,454.65
Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20
Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85
Far Supply/Resistance Zone (Daily): 23,976.00 - 23,196.45
Outlook
Nifty found support in the 30m Demand Zone (23,063.25 - 23,122.80) and managed to recover. As long as the low of this demand zone holds, there is potential for a bullish trend in the coming sessions.
Demand/Support Zones
Near Demand/Support Zone (Daily): 21,791.95 - 22,910.15
Supply/Resistance Zones
Near Supply/Resistance Zone (30m): 23,396.85 - 23,454.65
Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20
Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85
Far Supply/Resistance Zone (Daily): 23,976.00 - 23,196.45
Outlook
Nifty found support in the 30m Demand Zone (23,063.25 - 23,122.80) and managed to recover. As long as the low of this demand zone holds, there is potential for a bullish trend in the coming sessions.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.