Nifty Intraday levels 25th Oct 2023Good Morning Everyone,
Nifty showed a downside breakout falling below the 19334 support zone,, A long bear candle was formed on the daily time frame which could prove to be a resistance in the next upmove, Next support for nifty will be 19223, if this got breaks then nifty can head towards 18850 levels, while 19480 can provide resistance. Well Gift nifty is showing a gap up opening, but i think it will not sustains, even if we see good momentum for upside, try to sale on higher range, risk and rewards will be favorable, Well Banknifty has really broken important support zone 43300, but nifty still holding 19250 levels, a last hope for today will be 19200, any closing below this nifty will be ready to go further downside.
Important levels for Nifty:-
Important Support Zone 19200-19250
Important Resistance Zone 19450-19500
Buy above 19350, if levels sustains at least for 30 Mints.
Targets we can see in upside 19405/19482
Keep stop loss at 19273
Sale below 19273, if levels sustains at least for 30 Mints.
Targets we can see in downside 19213/19142
Keep stop loss at 19350.
Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
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