In the last Nifty Analysis, we discussed. At present Bears are in full control, and can drag the index towards the more lower side. Nifty bulls need to move above 11765 for coming back into the rhythm.
Yesterday Nifty opened on the lower side soon after opening Bears drag the prices towards more moderate levels.
After hitting the low 11461, bulls got some energy from the lower support zones. By the end of the day, Nifty made the high around 11582 levels.
Till we are holding 11461 level, we can see some bounce back of more 100-150 points.
The importance of level 11461 also increases because as per the Nifty weekly chart, Prices has reached the general bounce back area.
In the past, Nifty has continuously taken support from this area, since after the significant low of 26th Oct 2018. On the upper-side Gann resistance, for now, is 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 getting 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
Support for today in Intraday is at 11509/11480/11405 & Resistance is at 11575/11605/11680.
Note: Above mention price projection & other Information are for educational purpose only.
Last week Nifty and Bank Nifty Index traded lower after striking a high on Monday. The Bank Index is trading in a weak zone. Bank