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Nifty Intraday Technical Outlook 08 Aug

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Updated On:

We discussed the last Nifty technical analysis. For further upside, Nifty bulls need to sustain above 11036 for a rise towards 11095/11160. On the lower side, intermediate support is at 10811. Below, bears will again gain more strength.

Yesterday, Nifty opened a flat. The complete Intraday session was Range-bound and sluggish.

Nifty is progressing towards the critical Fixed time cycle period in the next few days.

It will be interesting to see if it can again favour the bulls and give some strength for the rise, as it has done before this cycle.

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.

Nifty Intraday Trading Levels for 08th Aug

Resistance for today in Intraday is at 10895 above the move towards 10930/10975/11035 can be seen.

While today’s support is likely to come at 10820, below that, a move towards 10785/10740/10680 can be seen.

Note: The above-mentioned Price projection & other Information are for educational purposes 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.