The Nifty 50 closed at 24,715.05, gaining 135 points (+0.55%) amid a recovery led by metal, auto, and banking stocks. While IT stocks lagged, the index managed to hold above the key 24,700 mark, keeping traders optimistic ahead of the GST Council meeting.
Here’s a breakdown of the latest support and resistance levels that traders should keep an eye on.
🔑 Key Support Levels
- 24,600–24,500 → Strong weekly support zone.
- 24,400 → Immediate intraday support.
- 24,300–24,250 → Crucial support range; if broken, downside pressure may increase.
- Below 24,350 → Analysts warn of intensified selling, which could drag the index toward 24,200–24,150.
🔑 Key Resistance Levels
- 24,700–24,800 → Immediate resistance; Nifty must sustain above this zone for bullish momentum.
- 24,900–25,000 → Major hurdle and psychological barrier for the index.
- Above 25,000 → A breakout here may trigger a stronger rally and new highs.
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