In the last analysis, we discussed. Nifty has multiple supports in the 11990-11920 zone. The Swing traders should strictly watch the Price action in the area as mentioned above for hint about the next trending move. On the upper side now resistance has shifted at 12100 levels. Above that, we can see Nifty moving towards 12180/12300 range.
Yesterday Index opened gap-down and moved more downwards towards 11935 levels. From there, bulls came back pushed the Nifty Index towards 12050 before the end of the day.
Our discussed range 11990-920 worked perfectly. However, as I said yesterday also, the range is quite significant, and it is worthful to follow, as from 11935 low Index jumped almost 120 points in intraday.
The opportunity was great. By applying many of our unique trading techniques, one can find out exceptional Intraday reversal like yesterday one.
Above is chart is the example of our ‘Point to Point’ trading method. It picks the reversal for Intraday & rewarded well by the end of the day.
Now moving ahead, primary support for Nifty is still in the same range 11990-11920. The resistance area on the upper side 12080-12100. Above that, we can see further upside towards the 12180/12300 range.
Intraday Nifty Trading Levels for 05th Dec
Resistance for today in Intraday is at 12080 above the move towards 12110/12160/11250 can seen.
While Support for today is likely to come at, 12010 below that move towards 11980/11930/11840 can be seen.
Note: Above mention Price projection & other Information are for educational purpose only.
