Nifty Index RBI Policy Analysis

In the last Nifty Analysis, we discussed. Now Nifty bulls need to trade above 11423 levels for getting the strength back. Above 11423 we can see a move towards 11510/11625 levels. On the lower side, Nifty bears will gain more advantage below 11270 for the move towards 11200/11080 levels.

Yesterday after gap-down opening Index made the low around 11257.

All eyes will be now on today’s RBI monetary Policy. It can give further direction to the markets.

Now moving ahead the plan is still the same — bulls in Nifty need to move above 11423 for the up move towards 11510/11625 levels.

On the lower end, Bears will get more strong below 11279 for the downside target of 11200/11080 levels.

Apart from it, the Nifty Index is having strong support in 11170-11200 range. Any dip near to this zone can be an excellent buying opportunity with tight stop-loss.

Intraday Nifty Analysis / Trading Levels for 04th Oct

Resistance for today in Intraday is at 11360 above the move towards 11400/11460/11560 can seen.

While Support for today is likely to come at, 11280 below that move towards 11240/11180/11080 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.