As I write this blog on 29 July for the August Expiry, my focus remains on three crucial NIFTY levels—24,000, 24,200, and 24,450. These levels are likely to dictate the market’s direction throughout the expiry series.
- 24,000 is the key support zone. Holding above this level will keep the broader bullish structure intact.
- 24,200 is the immediate pivot zone, where price action is expected to remain range-bound unless a decisive breakout occurs.
- 24,450 is the most important resistance. Based on the current price action, a meaningful and sustained rally in NIFTY is likely only after a convincing breakout and close above the 24,450 zone.
Until then, traders should expect consolidation and avoid chasing momentum. Keeping a close watch on these three levels will be essential for navigating the August Expiry with discipline and patience.
Check this Link for July Expiry details
29 July NIFTY Analysis
Today’s session ended on a positive note as NIFTY closed above the important 24,200 level, reinforcing the near-term bullish structure. However, the next major trending move is likely only after a decisive breakout above 24,450. Until then, expect range-bound price action with stock-specific opportunities.
#NIFTY #StockMarket #TechnicalAnalysis
This is for informational purposes only and does not constitute investment advice or a recommendation. Investors should exercise due diligence and consult a SEBI-registered advisor.
