In the last Nifty Technical Analysis, we discussed. At present Bears are having an advantage. In the meanwhile, Bulls are creating crucial support around 11600-11570 levels. If Nifty close below 11570-11600 range, then we can see some more slide in the index. On the upper side, Intermediate Resistance for Nifty is at 11840-860 range.
Yesterday Nifty open on the lower side, but soon it started zooming. Our Intraday trading levels rewarded us well with almost 100 points profit gain.
Such type of market moves is because of the ‘Natural Time Cycle’ period. I had already talked about it in my weekly analysis here.
Nifty Technical Analysis for 21st June Continues...
Bulls have shown a good bounce back of 200 points from the lower levels.
It will be interesting to see will they maintain this momentum.
There is a change in a view, the critical hurdle for the Nifty bulls is at 11889-11914 range.
Any close above it will add the momentum back in Bulls and rise towards 12020/ 12135 levels can be seen.
Nifty Technical Analysis 21st June: Intraday Trading Levels
Support for today in Intraday is at 11797/11760/11690 & Resistance is at 11855/11890/11960.