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Nifty Technical Analysis for 20th June

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We discussed the last Nifty Technical Analysis. Nifty Bulls should keep an eye on 11750 levels. Holding above them can give the bulls some strength. The Nifty Bears should watch 11640 levels for further downside.

Yesterday, above 11750, Nifty Bulls gained momentum and rallied towards 11800 levels. But soon, Bears and Nifty gave up all Intraday gains.

However, Intraday trading levels rewarded us well with 50 50-point profit gain.

Later in the day, Nifty dropped below 11640 but was unable to sustain itself, and it soon bounced back.

Yesterday’s volatile Intraday move was the effect of the ‘Natural Time Cycle’ period.

I had already talked about it in my weekly analysis here.

Nifty Technical 20th June Analysis

At present, the Bears have an advantage. But in the meantime, the Bulls are creating crucial support around 11600-11570 levels.

Any close below the 11570-11600 range will add further downside pressure on the index.

The Intermediate Resistance range is at 11840-860 on the upper side.

Nifty Bulls need to close above it to get the momentum back.

Nifty Technical 20th June Intraday Trading Levels

Today’s Intraday support is at 11670/11630/11560, and resistance is at 11750/11790/11860. 

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.