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Nifty Prediction for 26 November 2024
Nifty is likely to rise on Tuesday, following today's rally, and likely it will rise above 24,400 and 24,500 level too.
Nifty opened over 1% higher today, continued to trade higher throughout the day, and closed the day with a gain of 1.32% or 314 points.
After a Bullish Belt Hold candlestick formation on the previous closing, as expected Nifty rose higher and traded in green today, crossing over 23,300 during the day, and closing above the 23,200 level, forming a doji candlestick on the daily chart.
Nifty Prediction for 26 November 2024
As expected, Nifty rose today but on the higher side, it faces resistance from the 100DEMA near the 23,350 level and traded flat for the day after rising over 1% indicating a further bullish move.
As Nifty doesn’t fall after resisting from the 100DEMA it indicates a strong buyer presence in the market, and likely Nifty will ride higher on Tuesday, crossing the 23,400 and even 23,500 level.
On the daily chart, the RSI crosses over 50 indicating a Bullish Trend in the market, while MACD gives a bullish crossover and the PCR rises above 1.0 indicating a Bullish market for Tuesday, 26 November 2024.
The nearby support for Nifty is at the 24,200 level followed by the 24,000 and 23,800 level, while the resistance is placed at the 24,400 level which is its 100DEMA followed by 24,500 level and 24,800 level.
What to Expect from Nifty on 26 November 2024
Nifty is expected to rise on Tuesday, 26 November 2024, as indicated by today’s strong buying where Nifty holds at the early gains and traded higher throughout the day, indicating a strong buyer presence, and likely on Tuesday, Nifty will crossover the 100DEMA, and rises further.
But if Nifty fails to cross the 24,400 level and falls, towards 24,200 and then 24,000 then wait for it to rise once again to the 24,000 level as this is the strongest support for Nifty in the near term.
But considering today’s performance, Nifty is likely to rise on Tuesday, and likely cross the 24,400 level and them 24,500 easily.
Trading Level for Nifty: 24,000 – 24,500
Also Read:
Bank Nifty Prediction for Monday, 17 February 2025
By: Raaz Aryan
Nifty Support and Resistance for 26 November 2024
| Nifty Support Levels | Nifty Resistance Levels |
|---|---|
| 24,200 | 24,400 |
| 24,000 | 24,500 |
| 23,800 | 24,800 |
Note:- For the Most Accurate Data you can revisit this Page after 11:00 AM (during Trading hours), so we can update the Trade Setup after analyzing the Market.
Happy Trading 🙂
