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Nifty Intraday Technical Outlook 16th July

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Updated On:

In the last Nifty technical outlook post, we discussed. Bulls need to hold Gann support level 11461 for coming back into the game.

On Friday, Nifty opened on flat to a positive note after some consolidation bulls take the Index towards new day high.

But soon bears come back and drag the Index back towards the new day low. Overall Friday session was like a roller coaster ride.

Yesterday, Nifty opened on a positive note, but soon it gave up its all gains. The high came around 11618 levels.

The positional view for Nifty is the same, which we are already discussing in our last few posts.

Nifty Intraday Technical Outlook

Apart from it on the hourly chart, Bulls are creating support in the 11530-11490 range. The same can be seen in the above Nifty hourly chart.

The primary Resistance on the upper side is the same at 11765 levels. But before that level 11655 can also give a tough fight to Nifty bulls.

Nifty Intraday Trading Levels for 16th July

Support for today in Intraday is at 11565/11525/11450 & Resistance is at 11615/11655/11730.

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.