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Nifty Gann Analysis for 07th Nov

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Updated On:

In the last Nifty Analysis, we discussed. The swing trading plan is still the same. Nifty bulls need the close above 11973-12005 range, and bears will get further strength below 11840 Gann support level.

Yesterday after the flat opening Index, moved lower near towards our Gann support level of 11840. From there, Nifty bulls bounced almost 150 towards 12000 levels.

The high of yesterday was around 12002; still, bulls are not able to close or hold above 11973-12005.

Our new Proprietary trading tool ‘Hook Timing Method’ yesterday gave the BUY signal on a lower Intraday time frame. 

The opportunity was good to go long for accumulating 150 points profit.

Our plan for swing trading is still the same. Nifty bulls need the close or fair sustainability above 11973-12005 Gann resistance range.

On the lower side, Nifty bears need to break and hold below 11840 Gann support levels for the downside move.

Intraday Nifty Trading Levels 07th Nov

Resistance for today in Intraday is at 12015 above the move towards 12055/12115/11205 can seen.

While Support for today is likely to come at, 11930 below that move towards 11890/11830/11740 can be seen.

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

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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.