Further recession in Nifty? Learn what levels to keep an eye today

The market sometimes accelerates, sometimes a decline. Amidst these ups and downs, there are some magical numbers (levels or levels), which have an eye on every trader. These levels tell us what the next step of the market can be. For today, some such important levels are understood in easy language.

The most important level for the market: 24,700

For today 24,700 The level of is the biggest player. You are a market “Strong floor” Or “First big support” Can understand

• If this floor broken (in the event of a fall):
  If the Nifty goes below this 24,700 level and stops there for some time, it means that the sellers are dominating. In such a situation, there may be further decline in the market, and the Nifty 24,500 Or 24,450 Can also slip up to the level of. So if the market goes down, then these will be the next important level for you.

Now let’s talk about fast: Where is the top wall?

Just as there is a floor below, one above “Roof” Or “Wall” There is also, which is necessary for the market to cross.

• If the market rose (in the event of fast):
  Currently, the first major blockage on the top 24,850 – 24,900 Is around If the Nifty shows strength and breaks up this wall and comes up, then a new fast wave may come in the market. After this our next target can be a large psychological level of 25,000.

So what should be today’s strategy?

In short, your eyesight 24,700 Keep it at the level of.

• Above it The market is expected to strengthen.

• Under it There will be a sign of weakness in the market.

As long as the market is stuck between these two levels (the top wall and the bottom floor), avoid taking big trade and allow the market to decide its direction.