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Nifty Analysis for 26th Nov

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Updated On:

In the last Nifty Analysis, we discussed. For an up move, Nifty should hold & give a close above 12030; on the downside, 11915 will act as short-term support.

After our last Analysis, the Index moved below 11915 & made the low around 11883 levels.

Yesterday, the Nifty opened flat, but soon, it started trading higher with one-sided force.

In our past couple of posts, we emphasized 12030 levels heavily. The reason for that can be seen in the hourly chart below.

On two occasions, Nifty went above 12030 but failed to close above it. Yesterday, finally, it closed above it.

In fact, in our old posts, we also outlined the lower level 11800, which Nifty touched on 14th Nov and moved upwards.

Moving ahead, we can see more upper levels in the coming days. To maintain the upside momentum, the Bulls need to hold 11990 levels.

On the upper side, 12110-120 is the small hurdle area above which we can see a rally of more than 75/150 points.

Intraday Nifty Trading Levels for 26th Nov

Today’s Intraday resistance is at 12100, above which the move towards 12130/12180/11270 can be seen.

While Support for today is likely to come at 12020, below that, a move towards 11990/11940/11850 can be seen.

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.