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Niftysupportandresistance

Nifty Intraday Support & Resistance Levels for 20.12.2024On Thursday, Nifty opened with a huge gap-down, touching a low of 23870.30, taking support near the 61.8% Fibonacci retracement level, and slightly recovering to a high of 24004.90. It ended the session at 23951.70, breaking below the critical 24000 psychological mark, losing 247 points. This marks the fourth consecutive negative session. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) are sideways. Demand/Support Zones Near Support: 23872 (61.8% Fibonacci retracement level) Near Demand/Support Zone (75m): 23447.15 - 23578.60 Far Support: 23263 (low of 21st November 2024) Far Demand/Support Zone (Daily): 21791.95 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (125m): 24601.75 - 24698.10 Near Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 (tested) Far Supply/Resistance Zone (Daily): 25739.20 - 25907.60 Far Supply/Resistance Zone (Daily): 26151.40 - 26277.35 Key Insights Nifty continues to face strong resistance at 24700 - 25000 levels and has now fallen below 24000, a key psychological level. If 25000 is not reclaimed soon and 23000 breaks, the index could witness further downside or prolonged sideways movement in the coming months.
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 19.12.2024On Wednesday, Nifty opened negative, touched a high of 24394.45, but couldn’t sustain it and fell to a low of 24149.85. It ended the day at 24198.85, marking its third consecutive losing session, with a loss of 137 points. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) are currently sideways. Demand/Support Zones Near Demand/Support Zone (Daily): 23927.15 - 24188.45 (tested twice) Far Demand/Support Zone (75m): 23447.15 - 23578.60 Far Support is at 23872 (61.8% FIBO) Far Support is at 23263 (low of 21st November 2024) Supply/Resistance Zones Near Supply/Resistance Zone (125m): 24601.75 - 24698.10 Near Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 (tested) Far Supply/Resistance Zone (Daily): 25739.20 - 25907.60 Far Supply/Resistance Zone (Daily): 26151.40 - 26277.35
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 18.12.2024On Tuesday, Nifty opened with a gap-down, made a high of 24624.10, and dropped to a low of 24303.45, entering the 15m Demand Zone. It closed at 24336, losing 332 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) has shifted from positive to sideways. Demand/Support Zones Near Demand/Support Zone (15m): 24180.80 - 24342.50 (current price inside the zone) Near Demand/Support Zone (Daily): 23927.15 - 24188.45 (tested) Far Demand/Support Zone (75m): 23447.15 - 23578.60 Supply/Resistance Zones Near Supply/Resistance Zone (125m): 24601.75 - 24698.10 Near Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 (tested) Far Supply/Resistance Zone (Daily): 25739.20 - 25907.60 Far Supply/Resistance Zone (Daily): 26151.40 - 26277.35 Key Insights Current Major Resistance Zone: 24700 - 25000 Current Major Support Zone: 23900 - 24300 A breakout above resistance or a breakdown below support will likely determine the next significant move.
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 12.12.2024On Wednesday, Nifty opened flat to positive, tested a low of 24583.85 and a high of 24691.75 during the session. It closed at 24641.80, gaining 31 points over the previous close. While the Weekly Trend (50 SMA) remains sideways, the Daily Trend (50 SMA) is positive, indicating a cautiously optimistic outlook. Demand/Support Zones Near Demand/Support Zone (30m): 24330.20 - 24368.30 Far Demand/Support Zone (30m): 24140 - 24187.05 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Supply/Resistance Zones Near Supply/Resistance Zone (15m): 24772.60 - 24857.75 Near Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 (Current price inside the zone) Far Supply/Resistance Zone (Daily): 25739.20 - 25907.60 Far Supply/Resistance Zone (Daily): 26151.40 - 26277.35 Critical Level: Nifty is facing resistance around 24700. If it fails to sustain above this level, a correction towards 24370 or lower can be expected.
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 03.12.2024On Monday, Nifty opened flat, made a low of 24008.65, and rallied to a day high of 24301.70, entering the 125m supply zone. It closed at 24276.05, gaining 145 points over the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, indicating range-bound movement. Demand/Support Zones Near Demand/Support Zone (5m): 24008.65 - 24056.85 Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Far Support: 23189.88 (61.8% FIBO) Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (125m): 24257.65 - 24354.55 (current price inside the zone) Far Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside weekly supply) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside daily supply) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 02.12.2024On Friday, Nifty opened on a positive note, making an open = low of 23927.15, and rallied to a high of 24188.45, closing strong at 24131.10 with a gain of 217 points. After filling the gap and testing the 15m demand zone (23856.15 - 23940.30) on Thursday, Nifty rebounded 315 points from the previous low. On the Monthly Chart, Nifty formed a bearish candle for November, with a long downside shadow, a small upper shadow, and a close below October levels. Demand/Support Zones Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Near Support: 23189.88 (61.8% FIBO) Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (125m): 24257.65 - 24354.55 Far Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside weekly supply) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside daily supply) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 Key Levels to Watch: Upside Breakout: Above 24355 for a move toward 24448 or higher. Downside Support: A fall below 23927 may test 23731 or lower.
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 28.11.2024On Wednesday, Nifty opened flat and traded within a narrow range. It touched a low of 24145.65 and a high of 24354.55, eventually closing at 24274.90, up by 80 points from the previous close. For the past three days, Nifty has been consolidating in the 24100 - 24350 range, signalling indecision. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, indicating the market is waiting for a breakout. Demand/Support Zones Near Demand/Support Zone (15m): 23856.15 - 23940.30 Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Near Support: 23189.88 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside weekly supply) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily supply) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 A breakout beyond 24350 or a breakdown below 24100 could set the tone for the next directional move.
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 27.11.2024On Tuesday, Nifty opened with a gap-up at 24343.30, which also marked the day's high. However, the momentum did not sustain, leading to a low of 24125.40, before closing at 24194.50, down by 27 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is also sideways. The Demand & Supply Zones remain unchanged from the previous analysis. Demand/Support Zones Near Demand/Support Zone (15m): 23856.15 - 23940.30 Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Near Support: 23189.88 (61.8% FIBO) Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside Weekly Supply Zone) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily Supply Zone) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 26.11.2024On Monday, Nifty opened with a massive gap-up of 346 points, breaking through the 75m and Daily Supply Zones. It touched a high of 24351.55 and a low of 24135.45 before closing at 24221.90, gaining 314 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) has shifted from Negative to Sideways, signalling cautious optimism. Demand/Support Zones Near Demand/Support Zone (15m): 23856.15 - 23940.30 Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Near Support (61.8% FIBO): 23189.88 Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside Weekly Supply) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily Supply) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 25.11.2024On Friday, Nifty opened with a gap-up, hitting a low of 23359 in the first 15 minutes before a strong bull rally pushed it to a high of 23956.10, breaking the 15m Supply Zone and entering the 30m Supply Zone highlighted in the previous analysis. It closed at 23907.25, gaining an impressive 557 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. As highlighted in earlier posts, "If it holds the support (23350), we might see some bullish momentum till 23900 - 24250." Nifty delivered on this expectation, hitting the target of 23900. However, with the Daily Trend (50 SMA) still negative, caution is advised at levels above 24000 unless the trend turns positive and sustains. Demand/Support Zones Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Far Support (61.8% FIBO): 23189.88 Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 24004.60 - 24336.80 Near Supply/Resistance Zone (75m): 24106.90 - 24242.00 Far Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (75m): 24636.75 - 24741.45
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 22.11.2024On Thursday, Nifty opened on a negative note, reaching a high of 23,507.30 before tumbling to a day low of 23,263.15 within the first 30 minutes, breaking the Daily Demand Zone support at 23,350. It closed at 23,349.90, down by 168 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. The break below the daily demand zone signals ongoing selling pressure, with potential for further downside unless key support levels hold. Demand/Support Zones Near Support: 23,189.88 (61.8% Fibonacci level) Far Support Zone (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Resistance (15m): 23,686.15 - 23,726.90 Far Resistance (30m): 23,908.65 - 23,992.50 Far Resistance (75m): 24,106.90 - 24,242.00 Far Resistance (75m): 24,447.65 - 24,537.60 Far Resistance (75m): 24,636.75 - 24,741.45
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 21.11.2024On Tuesday, Nifty opened gap-up and rallied to a high of 23,780.65 (gaining 262 points over the previous close). However, during the last hour of trading, it lost all its gains and touched a low of 23,464.80, eventually closing at 23,518.50, with a modest gain of 64 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is still negative. For the fourth consecutive day, Nifty closed inside the Daily Demand Zone (23,350 - 23,667.10), indicating selling pressure on every rise. As reiterated earlier: "If Nifty holds the support at the lower boundary of the demand zone (23,350), we might see bullish momentum toward 23,900 - 24,250." Demand/Support Zones Near Demand/Support Zone (Daily): 23,350 - 23,667.10 (current price inside the zone) Far Support: 23,189.88 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Minor Resistance (15m): 23,686.15 - 23,726.90 Near Resistance (30m): 23,908.65 - 23,992.50 Far Resistance (75m): 24,106.90 - 24,242.00 Far Resistance (75m): 24,447.65 - 24,537.60 Far Resistance (75m): 24,636.75 - 24,741.45
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 19.11.2024On Monday, Nifty opened with a gap up at 23,592.60 (Open = High) but faced selling pressure, dropping to a low of 23,350.40 before closing at 23,453.80, losing 79 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. Despite continuing its pattern of lower highs and lower lows, Nifty took support at 23,350, bouncing over 200 points intraday, as anticipated. If the low of the Daily Demand Zone at 23,350 holds, we could see bullish momentum targeting 23,900 - 24,250 levels. Demand/Support Zones Near Support (Daily): 23,350 - 23,667.10 (current price inside the zone) Far Support: 23,189.88 (61.8% FIBO) Extended Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Immediate Resistance (30m): 23,908.65 - 23,992.50 Higher Resistance (75m): 24,106.90 - 24,242.00 Major Resistance (75m): 24,447.65 - 24,537.60 Extended Resistance (75m): 24,636.75 - 24,741.45
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 18.11.2024On Thursday, Nifty opened with a gap down, touched a high of 23,675.90, and slipped to a low of 23,484.15. It eventually closed at 23,532.70, losing 26 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) stays negative. Notably, Nifty has closed inside the Daily Demand Zone for the second consecutive session. As mentioned earlier, if this support holds, we could witness bullish momentum pushing Nifty toward 23,900 - 24,250 levels. Demand/Support Zones Near Support (Daily): 23,350 - 23,667.10 (current price within the zone) Far Support: 23,189.88 (61.8% FIBO Level) Extended Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Immediate Resistance (30m): 23,908.65 - 23,992.50 Higher Resistance (75m): 24,106.90 - 24,242.00 Major Resistance (75m): 24,447.65 - 24,537.60 Extended Resistance (75m): 24,636.75 - 24,741.45
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 14.11.2024On Wednesday, Nifty opened with a gap down and, driven by heavy selling in major stocks, dropped to a low of 23,509.60, entering the key Daily Demand Zone mentioned in the previous post. It closed at 23,559.05, down 324 points. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains negative. However, since Nifty has entered and closed within the Daily Demand Zone, if this support holds, we could see some bullish momentum toward the 23,900–24,250 range. It’s worth noting that Nifty has already corrected 2,767.75 points from the high of 26,277.35, marking a 10% drop from the peak. Demand/Support Zones Key Support (Daily): 23,350 - 23,667.10 (current price within this zone) Far Support: 23,189.88 (61.8% FIBO) Extended Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Immediate Resistance (30m): 23,908.65 - 23,992.50 Higher Resistance (75m): 24,106.90 - 24,242.00 Extended Resistance (75m): 24,447.65 - 24,537.60 Key Resistance (75m): 24,636.75 - 24,741.45
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 13.11.2024On Tuesday, Nifty opened with a gap up, reaching a high of 24,242 but failed to hold gains, dropping 400 points from the peak to a low of 23,839.15, breaking below the 30m demand zone. It closed at 23,883.45, down by 258 points. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains negative. As noted in previous posts, Nifty continues to be a "Sell on Rise" market until trends shift. Since reaching 24,537.60 last week, Nifty has declined steadily, losing 700 points over the past five trading days. Demand/Support Zones Near Support (Daily): 23,350 - 23,667.10 Deeper Support: 23,189.88 (61.8% FIBO) Major Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Resistance (75m): 24,106.90 - 24,242.00 Mid Resistance (75m): 24,447.65 - 24,537.60 Further Resistance (75m): 24,636.75 - 24,741.45 Key Resistance (Daily): 24,567.65 - 24,978.30 Extended Resistance (Daily): 25,739.20 - 25,907.60
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 12.11.2024On Monday, Nifty opened on a negative note, dropped to a low of 24,004.60, then rebounded mid-session to reach 24,336.80. However, it couldn't hold the gains and closed at 24,141.30, down 7 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is still negative. Key demand and supply zones stay unchanged from the previous update. Demand/Support Zones Near Support (30m): 23,842.75 - 23,951.10 Key Support (Daily): 23,350 - 23,667.10 Deep Support: 23,189.88 (61.8% FIBO) Extended Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Resistance (30m): 24,447.65 - 24,537.60 Key Resistance (75m): 24,636.75 - 24,741.45 Major Resistance (Daily): 24,567.65 - 24,978.30 Extended Resistance (Daily): 25,739.20 - 25,907.60
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 11.11.2024On Friday, Nifty opened nearly flat, dipping to a low of 24,066.65 and climbing to a high of 24,276.15, before closing at 24,148.20—a loss of 51 points from the previous close. With the Weekly Trend (50 SMA) remaining sideways and the Daily Trend (50 SMA) still negative, it continues to be a “Sell on Rise” market unless there’s a trend shift to positive. Key demand and supply levels stay consistent with previous posts. Demand/Support Zones Near Support (30m): 23,842.75 - 23,951.10 Key Support (Daily): 23,350 - 23,667.10 Deep Support: 23,189.88 (61.8% FIBO) Extended Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Resistance (30m): 24,447.65 - 24,537.60 Key Resistance (75m): 24,636.75 - 24,741.45 Major Resistance (Daily): 24,567.65 - 24,978.30 Extended Resistance (Daily): 25,739.20 - 25,907.60
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 08.11.2024On Thursday, Nifty opened flat, climbed to a high of 24,503.35, and then slid, ignoring the 15m Demand Zone and reaching a low of 24,179.05. It closed at 24,199.35, down by 284 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. As we've mentioned in earlier posts, it’s a “Sell on Rise” market until a positive trend shift occurs. Demand/Support Zones Near Support (30m): 23,842.75 - 23,951.10 Key Support (Daily): 23,350 - 23,667.10 Deep Support: 23,189.88 (61.8% FIBO) Far Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Resistance (30m): 24,447.65 - 24,537.60 Key Resistance (75m): 24,636.75 - 24,741.45 Major Resistance (Daily): 24,567.65 - 24,978.30 Extended Resistance (Daily): 25,739.20 - 25,907.60
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 07.11.2024On Wednesday, Nifty opened with a gap-up, breaking through the 75-minute supply zone and advancing into the 125-minute supply zone. It reached a high of 24,537.60, closing at 24,484.05 with a strong gain of 270 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. Demand/Support Zones Near Support (15m): 24,281.90 - 24,333.65 Near Support (30m): 23,842.75 - 23,951.10 Near Support (Daily): 23,350 - 23,667.10 Far Support: 23,189.88 (61.8% FIBO Level) Deep Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Resistance (125m): 24,502.80 - 24,604.25 Near Resistance (75m): 24,636.75 - 24,741.45 Key Resistance (Daily): 24,567.65 - 24,978.30
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 06.11.2024On Tuesday, Nifty opened on a weak note, dipping to a low of 23,842.75 before rallying to a high of 24,229.05. It closed at 24,213.30, up by 218 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is still negative. Demand/Support Zones Near Demand/Support (30m): 23,842.75 - 23,951.10 Near Demand/Support (Daily): 23,350 - 23,667.10 Extended Support: 23,189.88 (61.8% FIBO) Far Demand/Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Supply/Resistance (75m): 24,280.20 - 24,368.25 Near Supply/Resistance (125m): 24,502.80 - 24,604.25 Additional Resistance (75m): 24,636.75 - 24,741.45 Extended Resistance (Daily): 24,664.95 - 24,978.30
NSE:NIFTY
by PriteshPalan