Nifty is expected to witness a flat opening with no major overnight cues. The index is consolidating near the 24190–24200 zone, indicating indecision after the recent recovery. Traders should wait for confirmation around key support and resistance levels before initiating fresh positions.
If Nifty sustains above 24250 after the opening, traders can consider long positions with upside targets of 24350, 24400, and 24450. A decisive breakout above 24450 will confirm fresh bullish momentum and can extend the rally further.
On the downside, if Nifty fails to hold 24200 and slips below this support, traders can consider short positions with downside targets of 24150, 24100, and 24050. A sustained move below 24050 will strengthen the bearish bias and may trigger additional selling pressure.
Overall, a flat opening is expected with range-bound trading likely during the initial session. As long as Nifty holds above the 24200 support zone, buying on dips remains the preferred strategy. Traders should wait for a confirmed breakout or breakdown near the opening range, maintain disciplined stop-losses, and book profits gradually at the mentioned target levels.
If Nifty sustains above 24250 after the opening, traders can consider long positions with upside targets of 24350, 24400, and 24450. A decisive breakout above 24450 will confirm fresh bullish momentum and can extend the rally further.
On the downside, if Nifty fails to hold 24200 and slips below this support, traders can consider short positions with downside targets of 24150, 24100, and 24050. A sustained move below 24050 will strengthen the bearish bias and may trigger additional selling pressure.
Overall, a flat opening is expected with range-bound trading likely during the initial session. As long as Nifty holds above the 24200 support zone, buying on dips remains the preferred strategy. Traders should wait for a confirmed breakout or breakdown near the opening range, maintain disciplined stop-losses, and book profits gradually at the mentioned target levels.
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📈 Trade Smarter with TradZoo!
📣 Telegram: t.me/tradzooIndex
📣 Forex Telegram: t.me/tradzoofx
📲 Mobile App: tradzoo.com/download
📲 Forex App:tradzoo.com/forex/download
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📣 Forex Telegram: t.me/tradzoofx
📲 Mobile App: tradzoo.com/download
📲 Forex App:tradzoo.com/forex/download
🔗 Website: bit.ly/tradzoopage
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.