In the last analysis; we discussed. The Nifty bears are on the front foot & we can expect further decline below 11950 for the target of 11900/11840/11770 levels. On the upper side, Bulls need to move above 12100-110 range for getting the strength back.
Yesterday Index opened gap-up and made the high around 12152 levels. But, soon bears drag the Nifty towards lower levels & at the end of the day Index settles at 12052 closing price.
The swing trading plan for Nifty is still the same; Bulls need to close & hold above 12100-110 range for getting the strength back.
On the lower end; we can see further decline below 11950 for the target of 11900/11840/11770 levels.
Nifty Intraday Trading Levels for 08nd Jan
Resistance for today in Intraday is at 12100 above the move towards 12130/12180/12260 can be seen.
While Support for today is likely to come at, 12020 below that move towards 11990/11940/11860 can be seen.