NIFTY 50 18th DECEMBER 2024
Updated
Key Levels
Support Levels (Green Lines):
24,222.50: A support area where the price bounced.
24,181.10: Another critical support level and Stop Loss (SL).
24,179.15: Very close to SL, showing the bottom of the current range.
Resistance Levels (Red Lines):
24,367.45: Immediate resistance where price previously rejected.
24,481.10: A significant resistance above, marking a key level of rejection earlier.
24,508.05: The upper resistance zone.
Current Price Movement
24,292.30: Price is currently at this level, slightly recovering from the low.
Price is trading within a box range (highlighted blue/green zone) between 24,181.10 (SL) and 24,367.45 (Resistance).
Trade Setup
Entry: Likely triggered at 24,222.50 (support bounce).
Stop Loss: Around 24,181.10.
Target: Immediate target resistance at 24,367.45.
This setup appears to have a Risk-to-Reward ratio greater than 1:2, which is favorable.
Support Levels (Green Lines):
24,222.50: A support area where the price bounced.
24,181.10: Another critical support level and Stop Loss (SL).
24,179.15: Very close to SL, showing the bottom of the current range.
Resistance Levels (Red Lines):
24,367.45: Immediate resistance where price previously rejected.
24,481.10: A significant resistance above, marking a key level of rejection earlier.
24,508.05: The upper resistance zone.
Current Price Movement
24,292.30: Price is currently at this level, slightly recovering from the low.
Price is trading within a box range (highlighted blue/green zone) between 24,181.10 (SL) and 24,367.45 (Resistance).
Trade Setup
Entry: Likely triggered at 24,222.50 (support bounce).
Stop Loss: Around 24,181.10.
Target: Immediate target resistance at 24,367.45.
This setup appears to have a Risk-to-Reward ratio greater than 1:2, which is favorable.
Trade closed: stop reached
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