Nifty 15-Minute Analysis – Probable Supply/Demand Levels.

Nifty closed today on a weak note when observed on the 15-minute timeframe, suggesting that the index still has room for further downside before any meaningful recovery.

Key Observations:

• Weak Close – The index ended today without showing any strong buying interest near the close, signaling a continuation of bearish momentum.
  
• Short-Term Resistance – The first hurdle for any recovery attempt sits near 24950, which aligns with intraday supply zones and minor moving average resistance.
  
• Support Zone – The nearest visible support remains around 24700 – 24750, which has acted as a reaction level in the past.
  

Expected Price Action:

• Immediate Move: A short pullback is likely towards 24950 as sellers allow a relief bounce.
  
• Rejection Zone: If price struggles near 24950, fresh short positions may emerge.
  
• Downside Continuation: From this rejection, Nifty may head lower towards 24700, with 24750 acting as an intermediate support.
  
• Possible Swing Reversal: After testing 24700, there is a probability of a reversal attempt back towards 24870 (today’s closing level) before another leg of selling pressure resumes.
  

Levels to Watch:

• Resistance: 24950 → 25020 (short-term supply zone)
  
• Closing Pivot: 24870
  
• Support: 24750 → 24700 (critical short-term floor)
  

Trading Plan (Not Financial Advice):

For Intraday Traders:

1. Look for short opportunities near 24950 if rejection candles form.
   
2. Target zones: 24800 → 24750 → 24700.
   
3. For Swing Traders:
   
4. Watch price behavior around 24700. A sharp bounce from here may give a short-covering rally back to 24870+.
   
5. Sustained break below 24700 could open further downside.
   

Risk Note:

This analysis is based purely on chart structure and momentum on the 15-minute timeframe. Broader market cues (global sentiment, sector performance, macro events) can override intraday patterns. Always use stop-loss and adjust position sizing according to risk appetite.