Market Mood - 15/10/2024If the market opens above 24,992 - it might touch 25,700 and bounce back if the resistance is strong.
If the market opens below 24,964, it won't last long and will definitely bounce back upward, as the support is huge. Otherwise, it will touch 24,165 and will bounce back.
Strong Support is at 24,964, which combines the horizontal and parallel support levels. This mid-line has been providing support since the third week of July.
The index climbed above the 50-day EMA but still traded below the 10-day and 20-day EMAs. The momentum indicator RSI (Relative Strength Index) at 46.54 on the daily charts seems to be climbing towards the 50 mark.
Global Markets:
GIFT Nifty is trading at a discount of 30 points.
Asian Markets are trading in the positive territory.
Market Moving News:
Hyundai IPO Opens today for subscriptions.
Important Levels
Resistance based on pivot points: 25,156, 25,190, and 25,244
Support based on pivot points: 25,047, 25,014, and 24,959
