In the last analysis; we discussed. Now bulls have almost reached the critical ‘Gann Square Level’ for further rise; Nifty bulls need to break and hold above 12230-240 range, for the target of 12305/12370 levels. On the lower side, 12090-12080 will now act as support below that we can see a dip towards 12040/11990/11930 ranges.
Yesterday Index opened on the flat note. It made the high around 12225, and then Nifty fell towards lower levels.
The trend on the ‘Hourly Chart’ is still up, as Nifty is trading well above our ‘Unique’ angle line.
The market has shown the ‘True Power’ of actual ‘Gann Square.’ As the high made around 12230 (near ‘Square Level’) & we saw Nifty corrected almost 100 points from there.
Now moving forward, the Nifty is juggling between ‘Time & Price’ balance. For further upside, we need the close above 12230-240 range for the move towards 12305/12370 levels.
On the lower side, the significant support for the market is in the 12090-12050 range. However, the market can witness an intermediate weakness below 12130 for the move towards 12090/12045.
Nifty Intraday Trading Levels for 14th Feb
Resistance for today in Intraday is at 12190 above the move towards 12220/12270/12350 can be seen.
While Support for today is likely to come at, 12130 below that move towards 12100/12050/11970 can be seen.