Our Services Are

Yesterday, NIFTY started the session with a minor loss but found support near the 23,950 mark in early trade and rebounded sharply. The index regained the 24,000 level, but failed to breach 24,100. After making an intraday high of 24,089, NIFTY witnessed profit booking and eventually closed just above 23,900.

NIFTY has slipped below the 50-DEMA, placed near 24,000. However, the index continues to trade above the 10-DEMA and 20-DEMA, which are positioned in the 23,850–23,750 range. As long as NIFTY sustains above this support zone, long positions can be maintained with a protective stop-loss below 23,750.

On the upside, NIFTY is facing immediate resistance in the 24,000–24,100 zone. However, the overall market undertone remains positive, and therefore we continue to maintain a bullish outlook with an upside target of 24,400.