Trade Setup For Nov. 10: Nifty Finds Support At 25,350

Trade Setup For Nov 10: Nifty Finds Support At 25,350- 25,300 Levels (Source: pxhere) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The NSE Nifty 50 has found its support zone at 25,350-25,300, according to Rajesh Bhosale, equity technical analyst at Angel One.

"On the levels front, 25,350-25,300, which encompasses a weekly breakout zone, 50% Fibonacci retracement, and 50-day EMA, is likely to be seen as an intermediate and sacrosanct support zone, and any breakdown is likely to dampen sentiments in the near term," Bhosale said.

The index formed a bearish-bodied candle with a lower wick and a small upper wick was formed, indicating selling pressure at higher levels, according to Hardik Matalia, derivative analyst at Choice Broking.

"On the upside, resistance is seen a