In the last analysis, we discussed. The Nifty is now advancing towards the powerful ‘Gann Square,’ which will set the next trend in the market. The swing trading plan for Nifty is the same; we should carefully watch the price action in the 12207-230 range if the market reaches there. On the downside 12030-12040 range is the first support to watch-out; holding below that can drag the Nifty towards 11990/11940, where the significant support zone lies in 11930-11945.
After our last post, Index on Friday started trading on the weaker note. Yesterday it broke below the 12040-30 Gann support range and did our first target on the downside.
Now for again gaining the momentum, Nifty bulls need to break & trade above 12110 for the move towards 12150/190/240 levels.
On the lower side, Nifty bears need to break and hold below 11985 for the move towards the 11930/11870 range.
Nifty Intraday Trading Levels for 11th Feb
Resistance for today in Intraday is at 12070 above the move towards 12100/12150/12230 can be seen.
While Support for today is likely to come at, 11985 below that move towards 11955/11905/11825 can be seen.