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Nifty Intraday Analysis: Nifty near Gann Resistance

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We discussed the Last Nifty Analysis. The bulls are now nearing their crucial Resistance. Gann resistance for Nifty is in the 11895-11920 range. It will be the intermediate hurdle for the ongoing rally. On the lower hand, Gann support is at 11690. On closing below it, the index can test 11600/11480 levels.

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

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

Nifty Analysis Continues…

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

Nifty needs a sustainable move above 11920 levels to continue this ongoing 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 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.