Yesterday, NIFTY opened on a positive note and moved above the 24,100 mark in early trade. The index almost tested the 24,200 level during the session and eventually closed at 24,175, indicating sustained buying interest.
NIFTY has successfully regained the 100-DEMA, placed near 24,130, which has strengthened the short-term technical structure. With this breakout, the index is now well-positioned to test the 200-DEMA, which is placed near 24,425.
On the downside, the 23,975–23,875 zone will act as an important support area. Long positions can be maintained with a protective stop-loss below 23,875.
| Open | 24062 |
| High | 24194 |
| Low | 24058 |
| Close | 24175 |
| S 1 | 24091 |
| S 2 | 24007 |
| R 1 | 24227 |
| R 2 | 24278 |
| Action | SL | TGT |
|---|---|---|
| Buy above 24230 | 24159 | 24400 |
| Sell below 23990 | 24071 | 23850 |