Support Levels:
1. 19946: This is the initial support level. If the market experiences a decline, it could find support around this level.
2. 19833: Another support level to monitor.
Resistance Levels:
1. 20096/20204: These are the first resistance levels. If the market sustains above 20204, it may indicate a potential upside move.
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.
- Nifty expiry days can be volatile, so exercising caution and waiting for confirmation is a prudent approach.
1. 19946: This is the initial support level. If the market experiences a decline, it could find support around this level.
2. 19833: Another support level to monitor.
Resistance Levels:
1. 20096/20204: These are the first resistance levels. If the market sustains above 20204, it may indicate a potential upside move.
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.
- Nifty expiry days can be volatile, so exercising caution and waiting for confirmation is a prudent approach.