Nifty on October 29, 2024
Resistance Levels:
Primary Resistance: Near 24,700. If Nifty sustains a breakout above this level, there could be potential for an upward trend toward the next target at 24,850.
Secondary Resistance: Around 25,000. Should the price action reach this level, it could encounter significant selling pressure, marking a zone for cautious buying.
Support Levels:
Primary Support: 24,400. This level is crucial to monitor for holding as support; if the index stays above it, buying interest may stabilize the market.
Secondary Support: 24,250. A breakdown below this level could indicate a bearish trend for the day, opening possibilities for further declines
Primary Resistance: Near 24,700. If Nifty sustains a breakout above this level, there could be potential for an upward trend toward the next target at 24,850.
Secondary Resistance: Around 25,000. Should the price action reach this level, it could encounter significant selling pressure, marking a zone for cautious buying.
Support Levels:
Primary Support: 24,400. This level is crucial to monitor for holding as support; if the index stays above it, buying interest may stabilize the market.
Secondary Support: 24,250. A breakdown below this level could indicate a bearish trend for the day, opening possibilities for further declines
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