Nifty Intraday Support & Resistance Levels for 21.11.2024
On 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
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
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