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Nifty Analysis for 08th Jan

Last Updated: January 8, 2020 By Divesh

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.

Nifty
Nifty Hourly Angle Chart

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.


Tags

Nifty Hourly Gann Angle Chart, Nifty Intraday Trading Levels


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