Nifty Intraday Outlook on RBI Policy Day

In the last Nifty Intraday Outlook, we discussed. Bulls are in a strong position, to rise further & Bears have there chance only below 11900 levels.

On Tuesday Nifty intraday session was range bound in 90 points. Bulls are in a strong position, and they need to Protect 12010 on EOD basis for further rise.

Nifty Bears will get active below 12010, for the move towards 11960/11910/11800 price level.

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Today we have RBI Policy, so we can expect volatile moves in Nifty Intraday, which is good from a day trading perspective.

Nifty Intraday Outlook on RBI Policy Day

Support for today in Intraday is at 11990/11945/11870  & Intraday Resistance is at 12072/12115/12190.

P.S – Nifty closing below 12010, may also trigger short-term bearishness in the index.

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.