Nifty Technical Analysis for 07th-11th May

 

As posted in last week Analysis : Nifty did our target of 10727, which I forecasted one week before on 15th April in weekly analysis post, for now Bulls need to break and close above 10770 above that move towards 10900 / 10950 can be seen, on the other 10665 / 10570 are good support levels bear need close below 10570 to get some control.

 

Nifty again struggles near Weekly Gann angles (as shown in above Weekly chart), Nifty made high of 10784.65 this week failed to close above our Natural Resistance of 10770.

 

In my Facebook page, I forecasted well before for short-term selling in the range of 10755-10782, that post cab be seen here – Facebook Page

 

For next week bears need to break and close below 10570 below which quick move towards 10490 / 10390 can be seen & for bulls 10665 / 10750 / 10840 are the main resistance points which they need to break & get close above them.

 

We do discussion in Live market to update Nifty & Bank Nifty levels If you are interested you can LIKE the page to get Real Time Updates https://www.facebook.com/diveshtechanalysis

 

Note : Above mention Price projection & other Information are for educational purpose only.

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