We discussed the last Nifty technical analysis. Until we close above level 10888, bears have the upper hand. On the lower side, below 10754, bears will get more advantage, and we can see the levels of 10705/10640.
Yesterday, the Nifty opened on a negative note. But soon, bulls took charge and pushed the Index towards higher levels.
As I discussed in my Weekly post, buying forces were also a bit active from last week’s Thursday and Friday sessions.
The more additional confirmation came during yesterday’s trading session. In short, we can see a further bounce until we are holding Monday’s low.
The Index has rallied almost 150 points above 10888. For further upside, Nifty bulls need to sustain above 11036 for a rise towards 11095/11160.
On the lower side, intermediate support is at 10811. Below bears will again get more strength.
Nifty Intraday Trading Levels for 07th Aug
Today’s Intraday resistance is at 10990, above which the move towards 11030/11085/11150 can be seen.
While Support for today is likely to come at 10900, a move towards 10860/10800/10735 can be seen below that.
Note: The above-mentioned Price projection & other Information are for educational purposes only.
