On Friday, Nifty opened with a gap up and remained bullish throughout the day, closing at 24541.15 with a gain of 397 points. Keep a close watch on the 61.8% Fibonacci retracement level at 24625, as Nifty may face resistance there. A strong breakout above this level with volume could lead to a rally towards the 75m Supply zone starting at 24755. The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains sideways.
Support Levels: Near Demand/Support Zone (30m): 24389 - 24443 Far Demand/Support Zone (15m): 24204 - 24275 Near Demand/Support Zone (75m) for Weekly Trade: 23960 - 24077 Major Demand/Support Zone (Daily): 23350 - 23667
Resistance Levels: Near Resistance Level: 24625 (61.8% FIBO Retracement) Near Supply/Resistance Zone (75m): 24754 - 24835 Far Supply/Resistance Zone (125m): 24956 - 25031
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