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Nifty Intraday Analysis for 09 July

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Updated On:

We discussed the last Nifty Intraday Analysis. At present, the Bulls have the upper hand. The downside support for Nifty has shifted to 11805; below that, we see bears coming back.

On Friday, the Nifty made a high of around 11981 levels. On the Budget day, only the Nifty was nearly 140 points down compared to the previous day.

Yesterday, this fall was extended, and Nifty corrected almost 300 points from the close of Budget Day.

At present, the Bears are in full control and can drag the index towards the more lower side.

Nifty bulls need to move above 11765 for coming back into the rhythm.

Nifty Intraday Technical Analysis

The level to watch for Bears today in Intraday will be 11540. Below it we can see the Bears getting momentum.

The Key level to watch for Bulls in Intraday is at 11629. Above that, we can see bulls getting strength.

Nifty Intraday Trading Levels for 09th July

Today’s Intraday support is at 11550/11520/11480/11410, and resistance is at 11586/11620/11660/11735.

Note: The above-mentioned price projection & other Information are for educational purposes 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.