#NIFTY Intraday Support and Resistance Levels - 09/08/2024

Market Outlook for Nifty:

Opening: Expected to open with a gap up near the 24,350 level.

Resistance Zone: Nifty will encounter a strong resistance between 24,350 and 24,400.

Potential Reversal: If a reversal occurs at this resistance zone, the downside could extend to 24,100.
Extended Downside: Further downside is possible if Nifty trades below the 24,050 level, potentially reaching 23,850.
Bullish Scenario: A strong bullish rally is only expected if Nifty sustains and trades above the 24,400 level.