Nifty Outlook for 03rd Oct

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 Nifty Index opened gap-up and made the high around 11554.

It failed to break the mentioned resistance level of 11555, and in the result of it, Index fell 300 points.

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

Now Nifty bulls need to trade above 11423 levels for getting the strength back. Above 11423 we can see a move towards 11510/11625 levels.

On the lower side, Nifty bears will get more strength 11270 for the 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 seen.

While Support for today is likely to come at, 11315 below that move towards 11275/11215/11105 can be seen.

Note: Above mention Price projection & other Information are for educational purpose only.

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.