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Nifty Intraday Analysis: Nifty near Gann Resistance

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Updated On:

In the Last Nifty Analysis, we discussed. Bulls are now near to challenge their crucial Resistance. The Gann resistance for Nifty is in the 11895-11920 range. It will be the intermediate hurdle for the on-going rally. On the lower hand, Gann support is at 11690, on closing below it index can test 11600/11480 levels.

Yesterday was a quite volatile day due to expiry. Nifty opened flat and Bulls take charge & made the high around 11911 levels.

From there Nifty bears started there game. They drag the market towards 11821 almost 100 points down.

Nifty Analysis Continues...

Our discussed Gann resistance for Nifty 11895-11920 worked perfectly.

Nifty needs a sustainable move above 11920 levels for continuing this on-going rally. Otherwise, a minor short-term correction could be in place.

On the lower hand support for Nifty is still at 11690, below which index can test 11600/11480 levels.

Nifty Intraday Levels for 28th June

Support for today in Intraday is at 11820/11780/11705 & Resistance is at 11890/11925/11999.

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.