?? NIFTY Set for a Showdown: Will Bulls or Bears Take the Lead Today? ????
?? Good Morning.....
NIFTY Recap
Yesterday, we expected a flat opening, but NIFTY opened with a 93-point gap down around 24378.
● After the opening, support was at 24400 and resistance at 24500.
● NIFTY quickly touched the resistance level, but after being rejected, put writers worked hard to push support up to 24500, causing NIFTY to bounce back from the first support zone.
● As NIFTY approached the crucial zone, resistance moved up to 24600.
● However, call writers strongly resisted, making it tough for NIFTY to reach 24600.
● A back-and-forth battle continued for some time, but put writers eventually gave up and support fell back to 24400.
By the end of the day, NIFTY closed near the support zone at 24435.
Today's expected opening
Nifty may open flat or with a slight gap up, possibly in a crucial zone only.
?? As per Option Chain Data
Support Zones
● 1st: 24379 - 24329
● 2nd: 24280 - 24232
● 3rd: 24188 - 24140
● 4th: 24098 - 24053
● 5th: 24013 - 23935
Resistance Zones
● 1st: 24522 - 24568
● 2nd: 24618 - 24663
● 3rd: 24712 - 24764
● 4th: 24811 - 24872
Crucial Zone
● 24427 - 24474
Note
● ?? It's Weekly Expiry Day...
● ?? Keep a close watch on these levels for potential market moves.
● ?? The crucial zone could act as a key decision-making area for today’s trend—stay sharp... ??
?? All the best....