Nifty Analysis for 26th Nov

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

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

Yesterday Nifty opened up on a flat note, and soon it started trading higher with one side force.

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

On Two occasions, Nifty went above 12030 but failed to give a close above it. Yesterday finally Nifty gave close above it.

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

Nifty Daily Gann Angle Chart

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

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

Intraday Nifty Trading Levels for 26th Nov

Resistance for today in Intraday is at 12100 above the move towards 12130/12180/11270 can seen.

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

Note: Above mention Price projection & other Information are for educational purpose only.

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.