Nifty Intraday Support & Resistance Levels for 07.02.2025
Thursday’s session saw Nifty opening with a gap-up, touching a high of 23,773.55 in the opening minutes, but failing to sustain. It dropped to a low of 23,556.25 before closing at 23,603.35, losing 93 points over the previous close. The Weekly & Daily Trend (50 SMA) remains sideways.
Demand/Support Zones
Near Demand/Support Zone (75m): 23,327 - 23,381.60
Near Minor Demand/Support Zone (15m): 23,141 - 23,205.70
Near Demand/Support Zone (30m): 22,786.90 - 22,843.30
Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested)
Far Support Level: 21,281.45 (Low of 4th June 2024)
Far Demand/Support Zone (Daily): 20,769.50 - 20,950
Supply/Resistance Zones
Near Supply/Resistance Zone (5m): 23,686.70 - 23,701.90
Near Supply/Resistance Zone (Daily): 23,976 - 24,196.45
Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15
Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30
Outlook
Nifty broke above a key Daily Supply Zone but couldn't sustain, falling from 23,800 to 23,500. The next crucial resistance lies at 24,000 - 24,250. Only a breakout and sustained move above this zone could shift the trend from sideways to bullish.
Demand/Support Zones
Near Demand/Support Zone (75m): 23,327 - 23,381.60
Near Minor Demand/Support Zone (15m): 23,141 - 23,205.70
Near Demand/Support Zone (30m): 22,786.90 - 22,843.30
Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested)
Far Support Level: 21,281.45 (Low of 4th June 2024)
Far Demand/Support Zone (Daily): 20,769.50 - 20,950
Supply/Resistance Zones
Near Supply/Resistance Zone (5m): 23,686.70 - 23,701.90
Near Supply/Resistance Zone (Daily): 23,976 - 24,196.45
Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15
Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30
Outlook
Nifty broke above a key Daily Supply Zone but couldn't sustain, falling from 23,800 to 23,500. The next crucial resistance lies at 24,000 - 24,250. Only a breakout and sustained move above this zone could shift the trend from sideways to bullish.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.