We discussed the last Nifty Intraday Outlook. Bulls are in a strong position to rise further, and bears have their chance only below 11900 levels.
On Tuesday, the Nifty intraday session was range-bound at 90 points. Bulls are in a strong position and need to protect 12010 on an EOD basis for further growth.
Nifty Bears will get active below 12010 for the move towards the 11960/11910/11800 price level.
Today, we have the RBI Policy, so we can expect volatile intraday moves in the Nifty, which is good from a day trading perspective.
Nifty Intraday Outlook on RBI Policy Day
Intraday support is at 11990/11945/11870, and intraday Resistance is at 12072/12115/12190.
P.S. – Nifty closing below 12010 may also trigger short-term bearishness in the index.
Note: The above-mentioned price projection & other Information are for educational purposes only.
