Trade Setup For July 21: Nifty Faces Key Resistance At 25,100, Support Firm At 24,700
Nifty finds strong support at 24,700; faces resistance at 25,050–25,100. Traders watch for breakout amid market volatility.
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The NSE Nifty 50 has found firm support at the 24,700 level following three days of losses, according to Osho Krishan, Senior Analyst at Angel One. The 25,050–25,100 area is being watched by traders as the market gets ready for the July 21 session. This range is anticipated to serve as a major short-term resistance zone.
Even though the Nifty has been poor lately, its ability to stay above 24,700 is regarded as a strong technical indication. A clear move over 25,100, according to analysts, would spark new buying activity, while a decline below 24,700 might encourage more downward pressure.
It is recommended that traders keep an eye on sectoral performance, global sentiment, and larger market indications in order to determine intraday direction. It is probable that volatility will continue prior to global market triggers and earnings reports.
Please note that this post is not financial advise; it is merely educational. Please seek expert advice prior to making any investing decisions.
