Nifty Trade Analysis for 7th November 2024
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Nifty Trade Analysis
As of the current price of Nifty at 24,485, here are the potential trading opportunities for both buying and selling based on our target levels:
Buy Setup
Buy Above: 24,540
Targets: 24,610, 24,690, 24,890
Rationale: If Nifty surpasses 24,540, it could indicate bullish momentum, with a potential rally toward the first target of 24,610. Further upward movement could drive it towards the subsequent targets, indicating strong buying interest.
Sell Setup
Sell Below: 24,200
Targets: 24,090, 23,950, 23,830
Rationale: If Nifty falls below 24,200, it may signal bearish sentiment, with potential declines to the first target of 24,090. Continuing downside could lead to additional target levels, suggesting a more pronounced downward trend.
Disclaimer: I am not SEBI registered. This analysis is for informational purposes only and should not be taken as financial advice. Please conduct your own research or consult a professional before making any trading decisions. Trading in financial markets involves substantial risk, and past performance is not indicative of future results.
As of the current price of Nifty at 24,485, here are the potential trading opportunities for both buying and selling based on our target levels:
Buy Setup
Buy Above: 24,540
Targets: 24,610, 24,690, 24,890
Rationale: If Nifty surpasses 24,540, it could indicate bullish momentum, with a potential rally toward the first target of 24,610. Further upward movement could drive it towards the subsequent targets, indicating strong buying interest.
Sell Setup
Sell Below: 24,200
Targets: 24,090, 23,950, 23,830
Rationale: If Nifty falls below 24,200, it may signal bearish sentiment, with potential declines to the first target of 24,090. Continuing downside could lead to additional target levels, suggesting a more pronounced downward trend.
Disclaimer: I am not SEBI registered. This analysis is for informational purposes only and should not be taken as financial advice. Please conduct your own research or consult a professional before making any trading decisions. Trading in financial markets involves substantial risk, and past performance is not indicative of future results.
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24280 is the level to watch
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