We discussed the last Nifty technical analysis. To maintain this upside momentum, Nifty bulls need to close above 11175 resistance. On the lower side, Support is now at 10885, below which we can see further slide.
On Friday, the Index opened on a weaker note but gave a positive closing.
Yesterday, in spite of Friday’s strong close, Nifty opened a gap down & made the low around 10782.
Nifty is getting weak against the angle shown on the hourly chart.
Until now, this single-angle line has kept up with the market’s Major trend by providing multiple Selling points.
Till we close above level 10888, bears have the upper hand.
On the lower side, below 10754, 10705 will have a greater advantage, and we can see the levels of 10705/10640.
Nifty Intraday Trading Levels for 06th Aug
Today’s Intraday resistance is at 10890, above which the move towards 10930/10980/11040 can be seen.
While Support for today is likely to come at 10820, below that, a move towards 10780/10730/10670 can be seen.
Note: The above-mentioned Price projection & other Information are for educational purposes only.
