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Nifty Analysis for 04th July

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Updated On:

We discussed the last Nifty Analysis. The positional view for Nifty is still the same: Bulls need a sustainable move above the 11920 resistance level. On the downside, bears need to move below the 11750 support level.

Yesterday traded in a small tight range of 60-70 points. The movement in Intraday was sluggish and range-bound.

On the downside, the Nifty made a low near 11887 and bounced back to the new day high of 11945.

Yesterday Nifty went above 11920 but was not able to sustain above it.

The swing trade view is the same; Nifty bulls should get close above the 11920 Gann resistance level.

On the downside, Gann’s support for Nifty has now shifted to 11785 levels; below that, we can bear coming back into the game.

Nifty Intraday Technical Analysis

The level to watch for Bears today in Intraday will be 11890. Holding below it will give momentum to the Nifty bears.

The Key level to watch for Bulls in Intraday is at 11957 above that we can see a rise in today’s session.

Nifty Intraday Trading Levels for 04th July

Today’s Intraday support is at 11890/11865/11790, and resistance is at 11935/11960/12035. 

Note: Above mention 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.