Support Levels:
1. 20058: This is considered a good support level. If the market experiences a decline, it could find support around this level.
2. 20045: Another support level to monitor. If Nifty breaks below 20045, it may indicate a potential move to the downside, possibly up to 19946.
Resistance Levels:
1. 20107: This is a resistance level. If the market opens gap down, 20107 could act as an initial resistance.
2. 20204: This is the first resistance level. If the market opens above 20100, 20204 may act as resistance. A move above this level might signal further bullish momentum.
Important Notes:
- As with any trading, it's essential to consider other factors such as news events, economic data, and global events that can influence the market.
- Market conditions can change rapidly, so having a well-defined trading strategy and using risk management tools, like stop-loss orders, is crucial to manage potential losses.
- Pay attention to price action and technical indicators to confirm potential breakouts and reversals.
1. 20058: This is considered a good support level. If the market experiences a decline, it could find support around this level.
2. 20045: Another support level to monitor. If Nifty breaks below 20045, it may indicate a potential move to the downside, possibly up to 19946.
Resistance Levels:
1. 20107: This is a resistance level. If the market opens gap down, 20107 could act as an initial resistance.
2. 20204: This is the first resistance level. If the market opens above 20100, 20204 may act as resistance. A move above this level might signal further bullish momentum.
Important Notes:
- As with any trading, it's essential to consider other factors such as news events, economic data, and global events that can influence the market.
- Market conditions can change rapidly, so having a well-defined trading strategy and using risk management tools, like stop-loss orders, is crucial to manage potential losses.
- Pay attention to price action and technical indicators to confirm potential breakouts and reversals.