Nifty 50 Support and Resistance Levels (25/01/2024):
#### Support Levels:
1. **Support Level 1:** 21,300
2. **Support Level 2:** 21,200 to 21,000 (Round Number)
- If the market breaks below 21,200 and trades below, it might indicate the potential for a downside movement in Nifty 50.
#### Upside Resistance Levels:
1. **Resistance Level (as of now):** 21,600
- For potential upside movement, Nifty needs to trade above 21,600.
### Technical Analysis Insights:
- **Support Zone:** 21,300 and 21,200 to 21,000 (round number) are crucial areas where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement.
- **Resistance Zone:** 21,600 is currently a significant resistance level. Nifty needs to break above this level for potential upside movement.
- **Market Condition Note:** The market may exhibit slow and sideways movement if it fails to trade above the current resistance level. Keep in mind that tomorrow is the monthly expiry, so trade accordingly.
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#### Support Levels:
1. **Support Level 1:** 21,300
2. **Support Level 2:** 21,200 to 21,000 (Round Number)
- If the market breaks below 21,200 and trades below, it might indicate the potential for a downside movement in Nifty 50.
#### Upside Resistance Levels:
1. **Resistance Level (as of now):** 21,600
- For potential upside movement, Nifty needs to trade above 21,600.
### Technical Analysis Insights:
- **Support Zone:** 21,300 and 21,200 to 21,000 (round number) are crucial areas where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement.
- **Resistance Zone:** 21,600 is currently a significant resistance level. Nifty needs to break above this level for potential upside movement.
- **Market Condition Note:** The market may exhibit slow and sideways movement if it fails to trade above the current resistance level. Keep in mind that tomorrow is the monthly expiry, so trade accordingly.
.