Nifty Intraday Support & Resistance Levels for 01.01.2025
On Tuesday, Nifty opened gap-down, re-entering the 75-minute demand zone, and made a low of 23,460.45. It bounced back to touch a day high of 23,689.85 but closed flat at 23,644.80, losing just 0.10 points compared to the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative.
Demand/Support Zones
Near Support Level: 23,263 (low of 21st November 2024)
Far Support Level: 23,189.88 (61.8% FIBO retracement)
Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15
Supply/Resistance Zones
Near Supply/Resistance Zone (15m): 23,862.05 - 23,915.35
Far Supply/Resistance Zone (Daily): 24,149.85 - 24,394.45
Far Supply/Resistance Zone (Weekly): 24,567.65 - 25,234.05 (tested)
Outlook
Nifty's bounce from the demand zone highlights strong buyer interest at lower levels. However, resistance near 23,915.35 remains a key hurdle. A sustained move above this level could open doors for higher targets, while failure to hold above 23,263 may invite further selling pressure.
✨ Wishing everyone a happy and prosperous New Year 2025! ✨
Demand/Support Zones
Near Support Level: 23,263 (low of 21st November 2024)
Far Support Level: 23,189.88 (61.8% FIBO retracement)
Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15
Supply/Resistance Zones
Near Supply/Resistance Zone (15m): 23,862.05 - 23,915.35
Far Supply/Resistance Zone (Daily): 24,149.85 - 24,394.45
Far Supply/Resistance Zone (Weekly): 24,567.65 - 25,234.05 (tested)
Outlook
Nifty's bounce from the demand zone highlights strong buyer interest at lower levels. However, resistance near 23,915.35 remains a key hurdle. A sustained move above this level could open doors for higher targets, while failure to hold above 23,263 may invite further selling pressure.
✨ Wishing everyone a happy and prosperous New Year 2025! ✨
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