In the last Nifty Analysis, we discussed. The swing trade view is the same; Nifty bulls should get close above the 11920 Gann resistance level. On the downside, Gann support for Nifty is now shifted at 11785 levels, below that we can bear coming back into the game.
Today, we have the Union Budget Event. Due to that, the Nifty intraday remains volatile on budget day events.
Yesterday, the Nifty opened on a positive note and continued to trade higher. The intraday movement was in a tight range of 60-70 points.
At present, the Bulls have the upper hand. The downside support for Nifty has shifted to 11805; below that, we see bears coming back.
Nifty Intraday Analysis for Budget Day Session
The level to watch for the Bears today in Intraday will be 11929; below it, we can see the Bears gaining momentum.
The Key level to watch for Bulls in Intraday is 11975; above that, we can see bulls gaining strength in today’s session.
Nifty Intraday Trading Levels for 05th July
Support for today in Intraday is at 11975/12005/12090 & Resistance is at 11915/11885/11800.
Note: Above mention price projection & other Information are for educational purposes only.
