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Nifty Outlook for 03rd Oct

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Updated On:

In the last Nifty Analysis, we discussed. For further decline, we should strictly watch out the level 11400. On holding below that, we can see a further decline towards 11330/11200 levels. On the upper side, 11555 will act critical Resistance above that we can see a move towards 11630/11720.

On Tuesday, the Nifty Index opened a gap-up and made a high around 11554.

It failed to break the resistance level of 11555, causing the Index to fall 300 points.

Below the 11400 support level, it reached the low around 11247 levels and reached our 1st target.

Now, Nifty bulls need to trade above 11423 levels to regain strength. Above 11423, we can see a move towards 11510/11625 levels.

On the lower side, Nifty bears will gain more strength at 11270 as they move towards 11200/11080 levels.

Intraday Nifty Outlook / Trading Levels for 03rd Oct

Resistance for today in Intraday is at 11390. Above the move towards 11430/11490/11600 can be seen.

While today’s support is likely to come at 11315, below that, a move towards 11275/11215/11105 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.