Nifty is likely to open with a gap-up above the 24,750 level, indicating bullish momentum at the start of the session. If the index sustains above this level, further upside movement towards 24,850, 24,900, and 24,950+ can be expected. A strong breakout above 25,000 could extend the rally towards 25,150, 25,200, and 25,250+.
On the downside, immediate support lies near 24,700, and a break below 24,700 may lead to some profit booking, dragging the index towards 24,650, 24,600, and 24,500-. However, as long as Nifty trades above 24,750, the bias remains positive with dips likely to be bought into.
Overall, the sentiment is bullish, and traders should trail their stop losses while riding the upside move.
On the downside, immediate support lies near 24,700, and a break below 24,700 may lead to some profit booking, dragging the index towards 24,650, 24,600, and 24,500-. However, as long as Nifty trades above 24,750, the bias remains positive with dips likely to be bought into.
Overall, the sentiment is bullish, and traders should trail their stop losses while riding the upside move.
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📈 Trade Smarter with TradZoo!
📣 Telegram: t.me/tradzooIndex
📣 Forex Telegram: t.me/tradzoofx
📲 Mobile App: tradzoo.com/download
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🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📣 Forex Telegram: t.me/tradzoofx
📲 Mobile App: tradzoo.com/download
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🔗 Website: bit.ly/tradzoopage
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.