CMP: 25377.55
Moving AVG (EMA) 20 Hour & 40 Hour: 25380 & 25321
Moving AVG (EMA) 20 Day & 40 Day: 25101 & 24829
Support & Downside Range: 25285—2520 zone, 25185--25072
Resistance & Upside Range: 25556--25695
Short Term Trend Reversal Level: -- 24880
Trading View Summary:
• FED Event Passed last night and gave 50BPS rate cuts and also gave a indication of future rate cuts in months to come. And because of the rate cuts global markets are showing positive signs today. But we also have to accept the fact that in anticipation of rate cuts market has already moved up and trading at high's.
• For today's intraday trading session now key level to watch is 25285—25280 support zone.
• As long as NIFTY remains above this support zone its may try to move upside towards minimum 25556 to maximum 25695 spot levels.
• Whereas after opening if 25285-25250 breaks than on immediate basis we may see a pullback move to come in the markets.