On Thursday, Nifty opened gap down, re-entered the 30m Supply zone mentioned in the last post, and fell again to the day's low, almost touching the 75m (Weekly Trade) Demand zone before closing at 24117. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) has turned sideways.
Support Levels: Near Demand/Support Zone (75m): 23960 - 24077 Major Demand/Support Zone (Daily): 23350 - 23667
Resistance Levels: Near Supply/Resistance Zone (15m): 24284 - 24337 Far Supply/Resistance Zone (30m): 24686 - 24745 Far Supply/Resistance Zone (75m): 24754 - 24835
Note: As of writing this, GIFTNIFTY is trading 275 points positive, indicating we might see a gap-up opening.
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