In the last analysis; we discussed. If Nifty breaks & hold below 12150-12130 range, then we can expect the down move towards 12065/11990 range. On the upper side, 12250 will act resistance above that we can see the move towards 12300/12380 levels.
Yesterday Index opened gap-up, but it failed to hold the gains, and soon bears drag the market towards the lower side.
Once the Nifty breaks the 12130-12150 previous ‘Gann Square’ range, it becomes weaker & made the low around 12087 levels.
Now moving ahead, on the daily chart market is trading near-critical Gann Angle support line.
The Nifty bears now need to break & hold below that angle support line for further decline. The level will come around 12085, below that we can see slide towards 12045/11990 levels.
On the upper side, above 12185 Nifty bulls will get some strength for the move towards 12250/12320 levels.
Nifty Intraday Trading Levels for 23rd Jan
Resistance for today in Intraday is at 12160 above the move towards 12190/12240/12310 can be seen.
While Support for today is likely to come at, 12080 below that move towards 12050/12000/11930 can be seen.
Nifty Trading View After 1100 Points RallyNifty Index bulls are going up through the elevator. Many traders missed this rally. And are...08 October 2020, 21:33Read More
Nifty Short-term Trading View After 1000 Points FallAfter 1000 points, correction bulls got the support near august month low. But the road ahead ...29 September 2020, 20:45Read More
Nifty Breaks The Last 11185 Swing LowThe volatility stands high. During such times you should remain extra cautious before making the ...22 September 2020, 21:04Read More
Nifty Analysis After Today’s Big FallNifty Price Action Holds The Key Now For BullsBears continue the show of last week. And today sho...21 September 2020, 20:18Read More
‘TWO’ Decisive Levels Nifty Bulls Need To WatchThe Nifty Index bulls are hovering around significant levels. You should watch these 'TWO' levels...15 September 2020, 21:45Read More