Nifty Corrected 80 Points from Gann Resistance Zone

In the last Nifty Analysis, we discussed. Till Nifty bulls are holding 11745, we can see higher levels. On the upper side now Resistance for Nifty is in the range of 11973-12005, a close above that will add good strength to this ongoing rally.

After our last analysis, Index is continuing it’s upside journey. Yesterday Nifty made the high around 11989, which is in the Gann resistance zone 11973-12005. The Index corrected around 80 points from that resistance zone.

The plan is still the same; we should carefully watch Price action in the 11973-12005 Gann resistance zone for a further clue about the market trend.

On the lower side, Support is now shifted at 11840 below that we may see a dip towards 11800/11720 levels.

Nifty Intraday Trading Levels for 05th Nov

Resistance for today in Intraday is at 11965 above the move towards 12000/12050/12140 can seen.

While Support for today is likely to come at, 11890 below that move towards 11855/11805/11715 can be seen.

Note: Above mention Price projection & other Information are for educational purpose only.

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.