Nifty is expected to open with a gap-up bias around the 24025–24050 zone after witnessing a strong recovery from lower levels in the previous session. The index has reclaimed its immediate support zone and is consolidating just below a crucial breakout level, indicating that bullish momentum is gradually building.
For today's session, 24050 remains the immediate breakout level to watch. A sustained move above 24050 can trigger fresh buying momentum towards 24150, 24200, and 24250+ levels. The index is currently trading in a consolidation range near resistance, and a decisive breakout above this zone could lead to a fresh upside rally.
On the downside, 23950–23900 remains the key support zone for intraday traders. Any weakness below this range may invite profit booking towards 23850, 23800, and 23750 levels. However, as long as Nifty holds above the 23950 support area, the overall trend continues to favor the bulls.
For today's session, 24050 remains the immediate breakout level to watch. A sustained move above 24050 can trigger fresh buying momentum towards 24150, 24200, and 24250+ levels. The index is currently trading in a consolidation range near resistance, and a decisive breakout above this zone could lead to a fresh upside rally.
On the downside, 23950–23900 remains the key support zone for intraday traders. Any weakness below this range may invite profit booking towards 23850, 23800, and 23750 levels. However, as long as Nifty holds above the 23950 support area, the overall trend continues to favor the bulls.
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📣 Forex Telegram: t.me/tradzoofx
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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.