Nifty Intraday Support & Resistance Levels for 19.11.2024
On Monday, Nifty opened with a gap up at 23,592.60 (Open = High) but faced selling pressure, dropping to a low of 23,350.40 before closing at 23,453.80, losing 79 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative.
Despite continuing its pattern of lower highs and lower lows, Nifty took support at 23,350, bouncing over 200 points intraday, as anticipated. If the low of the Daily Demand Zone at 23,350 holds, we could see bullish momentum targeting 23,900 - 24,250 levels.
Demand/Support Zones
Near Support (Daily): 23,350 - 23,667.10 (current price inside the zone)
Far Support: 23,189.88 (61.8% FIBO)
Extended Support (Daily): 22,642.60 - 22,910.15
Supply/Resistance Zones
Immediate Resistance (30m): 23,908.65 - 23,992.50
Higher Resistance (75m): 24,106.90 - 24,242.00
Major Resistance (75m): 24,447.65 - 24,537.60
Extended Resistance (75m): 24,636.75 - 24,741.45
Despite continuing its pattern of lower highs and lower lows, Nifty took support at 23,350, bouncing over 200 points intraday, as anticipated. If the low of the Daily Demand Zone at 23,350 holds, we could see bullish momentum targeting 23,900 - 24,250 levels.
Demand/Support Zones
Near Support (Daily): 23,350 - 23,667.10 (current price inside the zone)
Far Support: 23,189.88 (61.8% FIBO)
Extended Support (Daily): 22,642.60 - 22,910.15
Supply/Resistance Zones
Immediate Resistance (30m): 23,908.65 - 23,992.50
Higher Resistance (75m): 24,106.90 - 24,242.00
Major Resistance (75m): 24,447.65 - 24,537.60
Extended Resistance (75m): 24,636.75 - 24,741.45
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