Nifty Intraday Support & Resistance Levels for 09.09.2024

On Friday, Nifty opened a gap down due to negative global cues and heavy selling pressure, breaking the near-daily demand zone and entering the far-daily demand zone mentioned in the previous post. It closed at 24852.15, losing 293 points. If Nifty does not sustain above 24771, we may see a further decline towards 24523 - 24636 or even lower. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) has shifted from positive to sideways.

Support Levels:
Near Demand/Support Zone (Daily): 24771 - 24859 (current price inside this zone)
Far Demand/Support Zone (Daily): 24523 - 24636
Far Support (61.8% FIBO Retracement Level): 24444
Far Demand/Support Zone (Weekly): 23893.70 - 24367.50

Resistance Levels:
Near minor Supply/Resistance Zone (15m): 24916 - 24959
Far Supply/Resistance Zone (5m): 25049 - 25084
Far Supply/Resistance Zone (75m): 25127.75 - 25198.60
Far Supply/Resistance Zone (Daily): 25235.80 - 25321.65