In the last analysis; we discussed. Nifty bears are in a strong position and can drag Nifty Index towards lower levels. On the upper side, 11900-910 will act as a significant Gann resistance area. Above that, we may see a move towards 11980/12050 levels. On the lower end, below 11750, we can see further slide towards 11710/11660/11600 levels.
Yesterday Index opened a gap-up. It made the high around 11883 and slipped back towards the lower levels.
In the previous session, the Nifty Index failed to cross above the 11900-910 Gann resistance range. As a result, its market started to weaken.
Now moving ahead, the Gann resistance has now shifted to 11920-930 area. On holding above that, we may see bulls again getting some strength back.
On the lower side, on holding below 11750 Nifty can show more downside levels of 11710/11660/11600.
Nifty Intraday Trading Levels
Resistance for today in Intraday is at 11800 above the move towards 11830/11870/11930 can be seen.
While Support for today is likely to come at, 11740 below that move towards 11710/11670/11610 can be seen.
