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Nifty Analysis for 10th July

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Updated On:

We discussed the last Nifty Analysis. At present, Bears are in full control and can drag the index towards the lower side. Nifty bulls need to move above 11765 to come back into the rhythm.

Yesterday Nifty opened on the lower side soon after opening Bears dragged the prices towards more moderate levels.

After hitting the low of 11461, bulls got some energy from the lower support zones. By the end of the day, Nifty reached a high of around 11582 levels.

Till Nifty holds the 11461 level, we can see some bounce back of more 100-150 points.

The importance of level 11461 also increases because, according to the Nifty weekly chart, Prices have reached the general bounce-back area.

In the past, Nifty has continuously taken support from this area since the significant low of 26 October 2018. On the upper side, Gann’s resistance is currently at 11765 levels.

Nifty Intraday Technical Analysis

The level to watch for Bears today in Intraday will be 11479; below it, we can see Bears gaining momentum.

The Key level to watch for Bulls in Intraday is at 11575. Above that, we can see bulls getting strength.

Nifty Intraday Trading Levels for 10th July

Today’s Intraday support is at 11509/11480/11405, and resistance is at 11575/11605/11680.

Note: The above-mentioned price projection & other Information are for educational purposes only.

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About the Author

Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.