We discussed the last analysis. The primary support for Nifty is still in the same range: 11990-11920. The resistance area is 12080-12100. Above that, we can see further upside towards the 12180/12300 range.
Yesterday, the Index opened on a positive note. It first traded in a small range and was hovering around level 12080, which is near the Gann resistance range. Later, it moved downwards and made the low around 11998.
If we look at the overall picture of this week, first, Nifty gained support from the 11920 range. It is now facing resistance from the 12080-12100 range.
The trading plan is still the same. Nifty bulls must cross and hold above the 12080-12100 Gann resistance range for the upside.
On the lower end, Nifty support is the same in the 11990-11920 range; we can expect a slide on holding below it.
Intraday Nifty Trading Levels for 06th Dec
Today’s Intraday resistance is at 12055, above which the move towards 12085/12135/11200 can be seen.
While today’s support is likely to come at 11985, below, a move towards 11955/11905/11840 can be seen.
Note: The above-mentioned Price projection & other Information are for educational purposes only.
