Nifty Intraday Outlook for 09 Aug

In the last Nifty technical analysis, we discussed. The short-term view is still the same; for further rise, Nifty needs to trade & sustain above 11036 levels. On the lower side, 10811-10782 range will act as support.

Yesterday Nifty opened on a positive note and continued its upward rise momentum.

We already discussed in the last couple of Posts and in Weekly analysis also that bounces is about to come. As buying forces are active and they should support the bulls.

Nifty bulls are looking in bit control. As now forces on weekly chart are also showing some critical changes in favor of bulls.

On the upper side next significant hurdle for bulls is at 11160, and on the lower side bears need to move below 10820 for further decline.

Nifty Intraday Trading Levels for 09th Aug

Resistance for today in Intraday is at 11065 above that move towards 11105/11155/11220 can seen.

While Support for today is likely to come at, 10990 below that move towards 10950/10900/10835 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.