On Wednesday, Nifty opened almost flat, touched the 15-minute Demand zone mentioned in the last post, and bounced 100 points to make a new all-time high of 25,482.20. However, it faced selling pressure, dropping 200 points from the top, and closed at 25,331.40, losing 41 points from the previous day. Both the Weekly and Daily Trends (50 SMA) remain positive.
Demand/Support Zones:
Near minor Demand/Support Zone (15 min): 25,244.55 - 25,269.45
Far Demand/Support Zone (Daily): 24,753.15 - 25,130.50
Far Demand/Support Zone (75 min): 24,885.15 - 25,072.55
Supply/Resistance Zones:
Near minor Supply/Resistance Zone (15 min): 25,469.05 - 25,482.20