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Nifty Intraday Technical Analysis 05th Feb

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Updated On:

As posted in the last analysis: Nifty closed above 10810 level, shows bulls have the upper hand, & we may see the levels of 10880/10938 today, however, today we have the Union Budget Event so that wild swings can happen on either side.

Nifty does both targets above 10810 on Friday Budget day; we are again back in the same zone of resistance where 11000 price level, will act as resistance on a weekly basis.

10970-11020 will be the critical zone to look for on day to day basis above that,11085 / 11190 level can be seen & Bears have there chance only below 10792.

Critical Support for today in Intraday is at 10880 /10840/10780 & Resistance is at 10935 /10985 /11060.

Note: Above mention price projection & other Information are for educational purpose only.

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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.