Nifty Trading Tip to Enhance Your Profit

NIFTY Spot View: 04/09/2024

CMP: 25279.85

Moving AVG (EMA) 20 Hour & 40 Hour: 25251 & 25189

Moving AVG (EMA) 20 Day & 40 Day: 24845 & 24552

Support & Downside Range: 25200—25130 Zone, 25000—24963 zone. 24800

Resistance & Upside Range: 25485—25636--25847

Short Term Trend Reversal Level: -- 25000—24963 

Trading View Summary:

•  No major changes in the levels it's same as yesterday. After strong up move US market showing sign of cool off of a recent rally and same we might expect with Nifty. In any sort of weak opening downside 25200—25130 should act as immediate support zone. If NIFTY manage to hold this support on closing basis than we may immediate resumes the uptrend towards 25636 to 25847 and above levels.

•  Whereas after opening if Nifty breaks 25200—25130 on sustain basis and closing basis than we may see a little dip pullback towards minimum 25000 to 24963 and maximum 24800 spot levels. 

•  So understand the importance of 25200—25130 support zone on closing basis now.

•  Note: if we see any sort of correction in the market it's going to be a bull market pullback so nothing to worry.