Nifty Intraday Support & Resistance Levels for 23.07.2024

On Monday, Nifty entered the daily demand zone mentioned in the previous post and bounced over 200 points from the bottom before closing at 24509.25. The weekly trend (50 SMA) remains overbought, while the daily trend (50 SMA) remains positive. The support and resistance levels remain the same as previously mentioned.

Support Levels:
Near support/demand zone (125m) for weekly trade: 24193 - 24357
Major support/demand zone (Daily): 24141 - 24461

Resistance Levels:
Near supply/resistance zone (15m): 24741 - 24774
Near supply/resistance zone (75m) for weekly trade: 24774 - 24854.80