Nifty Intraday Technical Analysis – 24th Jan

As posted in the last analysis: The view is still same 10964 will as act resistance, followed by 11000 level of weekly resistance, and 10849 will act as support.

Nifty Intraday Technical Analysis - 24th Jan

Yesterday, Nifty made the low of 10811, & close below our support level of 10849, which shows the weakness, is still there in the present situation.

Move towards 10730 / 10690 levels can be seen in this decline, now 10910 will act as resistance.

Above I've applied angle on Hourly chart, which will guide us today, during intraday, as holding above that can show again shift in momentum from bear to bull side.

The same chart we posted yesterday also, before market, and we can see High in intraday, was made very close to the angle, which indicated, that bears have upper hand & nifty fell more than 100 pts, in intraday.

Critical Support for today in intraday is at 10820 /10775/10720 & Resistance is at 10850 /10890/10940.

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

Posted by Divesh
January 24, 2019