Today, a gap-down opening is expected in Nifty near the 24,700 level. If Nifty sustains below the 24,700 mark after opening, a continuation of the bearish trend may take place with potential downside targets at 24,650, 24,600, and even 24,550+.
On the other hand, if Nifty manages to reclaim the 24,750–24,800 zone and starts trading above it, we could see a short-term pullback or recovery rally towards 24,850, 24,900, and 24,950+ levels.
However, the 24,950 level will act as a strong resistance for today’s session — any upside attempt may see rejection or profit booking from this zone.
On the other hand, if Nifty manages to reclaim the 24,750–24,800 zone and starts trading above it, we could see a short-term pullback or recovery rally towards 24,850, 24,900, and 24,950+ levels.
However, the 24,950 level will act as a strong resistance for today’s session — any upside attempt may see rejection or profit booking from this zone.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.