Nifty Intraday Support & Resistance Levels for 26.08.2024

On Friday, Nifty opened with a gap up and remained within a narrow 100-point range throughout the day, closing at 24823.15 with a modest gain of 11 points. Despite breaking above the 75m supply zone, Nifty has closed inside this zone for the third consecutive day. The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains sideways. The demand and supply zones remain unchanged from the last post.

Support Levels:
Near Demand/Support Zone (125m): 24543 - 24605
Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340

Resistance Levels:
Near Supply/Resistance Zone (75m): 24754 - 24835 (current price is inside the zone)
Far Supply/Resistance Zone (125m): 24956 - 25031