Nifty Intraday Support & Resistance Levels for 16.10.2024

On Tuesday, Nifty opened with a gap up, hitting a high of 25,212.05 as it touched the 15-minute supply zone from the previous post. However, it reversed sharply, dropping 200 points to a low of 25,008.15, eventually closing at 25,057.35, down by 70 points. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) stays sideways.

Nifty Demand/Support Zones for 16.10.2024:
Near Demand/Support Zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone)
Near Demand/Support Zone (75m): 24,928.05 - 24,979.10
Far Demand/Support Zone (Daily): 24,522.95 - 24,636.35
Far Demand/Support Zone (Daily): 24,099.70 - 24,196.50
Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75

Nifty Supply/Resistance Zones for 16.10.2024:
Near Supply/Resistance Zone (15m): 25,420 - 25,485.05
Far Supply/Resistance Zone (15m): 25,500.95 - 25,545
Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60
Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35