Nifty Intraday Support & Resistance Levels for 18.11.2024
On Thursday, Nifty opened with a gap down, touched a high of 23,675.90, and slipped to a low of 23,484.15. It eventually closed at 23,532.70, losing 26 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) stays negative.
Notably, Nifty has closed inside the Daily Demand Zone for the second consecutive session. As mentioned earlier, if this support holds, we could witness bullish momentum pushing Nifty toward 23,900 - 24,250 levels.
Demand/Support Zones
Near Support (Daily): 23,350 - 23,667.10 (current price within the zone)
Far Support: 23,189.88 (61.8% FIBO Level)
Extended Support (Daily): 22,642.60 - 22,910.15
Supply/Resistance Zones
Immediate Resistance (30m): 23,908.65 - 23,992.50
Higher Resistance (75m): 24,106.90 - 24,242.00
Major Resistance (75m): 24,447.65 - 24,537.60
Extended Resistance (75m): 24,636.75 - 24,741.45
Notably, Nifty has closed inside the Daily Demand Zone for the second consecutive session. As mentioned earlier, if this support holds, we could witness bullish momentum pushing Nifty toward 23,900 - 24,250 levels.
Demand/Support Zones
Near Support (Daily): 23,350 - 23,667.10 (current price within the zone)
Far Support: 23,189.88 (61.8% FIBO Level)
Extended Support (Daily): 22,642.60 - 22,910.15
Supply/Resistance Zones
Immediate Resistance (30m): 23,908.65 - 23,992.50
Higher Resistance (75m): 24,106.90 - 24,242.00
Major Resistance (75m): 24,447.65 - 24,537.60
Extended Resistance (75m): 24,636.75 - 24,741.45
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