Nifty Intraday Support & Resistance Levels for 28.11.2024

On Wednesday, Nifty opened flat and traded within a narrow range. It touched a low of 24145.65 and a high of 24354.55, eventually closing at 24274.90, up by 80 points from the previous close.

For the past three days, Nifty has been consolidating in the 24100 - 24350 range, signalling indecision. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, indicating the market is waiting for a breakout.

Demand/Support Zones
Near Demand/Support Zone (15m): 23856.15 - 23940.30
Near Demand/Support Zone (15m): 23661.75 - 23731.25
Far Demand/Support Zone (75m): 23447.15 - 23578.60
Near Support: 23189.88 (61.8% FIBO Level)
Far Demand/Support Zone (Daily): 22642.60 - 22910.15

Supply/Resistance Zones
Near Supply/Resistance Zone (75m): 24447.65 - 24537.60
Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside weekly supply)
Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily supply)
Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05

A breakout beyond 24350 or a breakdown below 24100 could set the tone for the next directional move.