Nifty 50 Analysis: Key Support and Resistance Levels for Strategic Trading

Pravesh Gour, Senior Technical Analyst at Swastika Investmart, suggests that if the Nifty 50 dips below 24,500, it could signal further declines, potentially reaching the 24,000-23,650 zone, with intermediate support levels around 24,250-24,150. On the other hand, the range between 24,800 and 25,000 is identified as a supply zone, and a breakthrough above 25,000 might indicate a continuation of the bullish trend.

In terms of strategy, he recommends considering buying opportunities on dips near 24,200, while advising a stop-loss at 23,650 and aiming for a target of 25,000.

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