Nifty Intraday Analysis for Budget Day

In the last Nifty Analysis, we discussed. The swing trade view is the same; Nifty bulls should get close above 11920 Gann resistance level. On the downside, Gann support for Nifty is now shifted at 11785 levels, below that we can bear coming back into the game.

Today we have the Union Budget Event, due to that, Nifty in intraday remains volatile on budget day events.

Yesterday, Nifty opened on a positive note and continued to trade higher. The movement in Intraday was in a tight range of 60-70 points.

Now at present Bulls are having the upper hand. The downside support for Nifty is now shifted at 11805, below that we see bears coming back.

Nifty Intraday Analysis for Budget Day Session

The level to watch for Bears today in Intraday will be 11929, below it we can see Bears getting momentum.

The Key level to watch for Bulls in Intraday is at 11975 above that we can see bulls getting strength in today’s session.

Nifty Intraday Trading Levels for 05th July

Support for today in Intraday is at 11975/12005/12090 & Resistance is at 11915/11885/11800.

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.