Nifty Technical Analysis 20-24th Aug
As posted in last nifty technical analysis: 10368 will be significant support as below that we can see the move towards 10320.Where price will meet the critical price point.
If the market fails to hold 10320 level, then we can see a move towards 11260 and 11490-520 range will act as resistance.
Nifty almost reacted in the same manner as analyzed it in last week nifty technical analysis.
Nifty made low 11340 on the very first day of the week, as 11320 was our critical support point & then for the rest of the week we saw upside movement.
In, the above chart we can see how precisely are unique Gann angles respected by the market.
Nifty Technical Analysis
When we properly scale our chart, then we can see nifty is moving in parallel geometric angles.
The above chart is one example of proper scaling.
For next week, 11520 will act as resistance above which move towards 11590 / 11670 can be seen.
And 11430 will act as strong support below which towards 11370 / 11300 can be seen.
Note: Above mention Price projection & other Information are for educational purpose only.