The intermediate support level for the Nifty index is anticipated to reside within the 25,000-24,900 range, which is expected to provide a buffer against potential declines, according to Osho Krishan, Senior Analyst – Technical and Derivatives, Angel One Ltd.
“Furthermore, the positive crossover of the 20 and 50 DEMA around 24,800 is regarded as a critical support zone from a positional perspective,” Krishnan said.
At the higher end, intermediate resistance levels are identified around 25,250, followed by a bearish gap located in the 25,340 zone, according to Bajaj Broking Research.
“Nevertheless, given the current technical configuration, the range of 25,500 to 25,600 appears to be attainable in the near term,” Bajaj Broking Research commentary said.
The Bank Nifty, another keenly tracked index, faces immediate support at 54,000 levels holding above the same will keep the bias positive, Bajaj Broking said.
“Index has immediate resistance at 55000 levels, a move above the same will open further upside towards 55,800 levels in the coming weeks.” it said.
