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Nifty Gann Analysis for 29th Nov

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We discussed the trading plan in the last analysis. Bulls need to trade and hold above the 12110-120 range for a fresh round of strong rallies. The Nifty bears, on the other hand, will only get active and forceful below the 11930 levels.

Yesterday, the Index opened on a positive note and made a new lifetime high around 12157. It traded in a small range of just 58 points.

The breakout above 12000-12030 was rewarded well after it dipped back into that zone and moved higher towards a new lifetime high.

Now, moving ahead, we can see Nifty reaching higher levels. But, for that, bulls need to hold the 11990 Gann support level on a closing basis.

On the higher side, the next resistance is around 12275 levels. Above that, we can see a more substantial move towards 12550-12600 levels.

Intraday Nifty Trading Levels for 29th Nov

Today’s Intraday resistance is at 12180, above which the move towards 12210/12260/11350 can be seen.

While Support for today is likely to come at 12110, below that, a move towards 12080/12030/11940 can be seen.

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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.