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Nifty Intraday Technical View for 12th July

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We discussed the last Nifty Analysis. The view is still the same: until Nifty holds 11461 levels, we can see a bounce back. We already discussed the weight of level 11461 in our last post.

Yesterday, Nifty opened a gap-up. After some consolidation at crucial levels, Bulls take the Index towards 11600.

The positional view is still the same: If the Bulls manage to hold 11461, we can again see a rise in the Index.

If Nifty fails to hold the above-mentioned level, we can see it moving towards the lower side.

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

Nifty Intraday Technical Analysis

The level to watch for Bears today in Intraday will be 11540. Below it, we can see the Bears getting momentum.

The Key level to watch for Bulls in Intraday is at 11616. Above that, we can see bulls getting strength.

Nifty Intraday Technical Levels for 12th July

Support for today in Intraday is at 11560/11530/11450, & Resistance is at 11600/11630/11710.

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.