Today, a flat opening is expected in Nifty near the 24,950 level. The index has been moving in a narrow consolidation zone and currently trades just below an important resistance. If Nifty manages to sustain above the 25,050–25,100 zone after the opening, we may witness bullish momentum building up. This could lead to an upward move toward 25,150, 25,200, and possibly 25,250+ levels during the day.
However, if Nifty fails to hold above the 24,950 mark and slips into weakness, it may invite intraday profit booking. A drop below the 24,900–24,950 level could open the downside toward 24,850, 24,800, and 24,750 levels. This zone has previously acted as a support range, and any break here could intensify selling pressure.
However, if Nifty fails to hold above the 24,950 mark and slips into weakness, it may invite intraday profit booking. A drop below the 24,900–24,950 level could open the downside toward 24,850, 24,800, and 24,750 levels. This zone has previously acted as a support range, and any break here could intensify selling pressure.
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📣 Telegram: t.me/tradzooIndex
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Related publications
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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.