Monthly Time Frame:
Supply Zone: 22600 to 22800
Demand Zone: 21500 to 21800
as long as it is not breaking this supply and demand zone we are expecting market to trade between this range
in Daily time frame we see First Trendline Support: Around 21900
if that is broken second trendline support around 21600 which also falls between monthly demand zone, which we expect to be strong support level
in
Hourly Time Frame:
there is small reversal around Fibonacci level 0.786 to 0.618, which will act as a immediate support.
If this level is breached, the next support is around a marked area.
Should this support fail, the Nifty may then move towards the next target.
Downside Targets:
First Level: 21820
Second Level: 21720
Third Level: 21620
Upside Targets:
First Target: Immediate supply zone around 22110
If the Nifty breaks above 22110, the next targets are:
Second Level: 22220
Third Level: 22300
These targets provide specific points to watch for potential reversals or continuations in the market trend. Keep an eye on these levels for potential trading opportunities and be prepared to adjust your strategy based on the Nifty’s movement relative to these key levels.
Again, it is not recommendation for any buy or sell it is just for educational purpose only
Supply Zone: 22600 to 22800
Demand Zone: 21500 to 21800
as long as it is not breaking this supply and demand zone we are expecting market to trade between this range
in Daily time frame we see First Trendline Support: Around 21900
if that is broken second trendline support around 21600 which also falls between monthly demand zone, which we expect to be strong support level
in
Hourly Time Frame:
there is small reversal around Fibonacci level 0.786 to 0.618, which will act as a immediate support.
If this level is breached, the next support is around a marked area.
Should this support fail, the Nifty may then move towards the next target.
Downside Targets:
First Level: 21820
Second Level: 21720
Third Level: 21620
Upside Targets:
First Target: Immediate supply zone around 22110
If the Nifty breaks above 22110, the next targets are:
Second Level: 22220
Third Level: 22300
These targets provide specific points to watch for potential reversals or continuations in the market trend. Keep an eye on these levels for potential trading opportunities and be prepared to adjust your strategy based on the Nifty’s movement relative to these key levels.
Again, it is not recommendation for any buy or sell it is just for educational purpose only