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January 15, 2020

Nifty Technical Trading View for 15th Jan

In the last analysis; we discussed. Nifty bulls must break & hold above 11365 range, and on the lower side, 12260 will act as support for the next few sessions. On the upside first objective will around 12400 levels & further above that, we can see the levels of 11460/11550.

Yesterday Index opened on the flat note. Then soon after making the low near to our Nifty Intraday trading support level, it bounced back towards the higher levels.

By the end of the day, Nifty made the new lifetime high around 12374 levels, just 9 points above our resistance level of 12365. However, Index closing was below the 12365 range.

Gann Angle Chart for Nifty Daily Time frame
Nifty Daily Gann Angle Chart

Now moving ahead, Nifty bulls have broken 12365 Gann resistance range but failed to gets EOD close above it; so far, for the coming session, we carefully need to watch the price action near 12365 range.

If bulls hold above the resistance level as mentioned above, then we can expect further upside, else we can see the pullback.

On the lower end, 12240 will act as the support below that we can see bears getting some strength back.

Nifty Intraday Trading Levels for 15th Jan

Resistance for today in Intraday is at 12375 above the move towards 12405/12455/12545 can be seen.

While Support for today is likely to come at, 12320 below that move towards 12290/12240/12150 can be seen.

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