In the last Nifty Technical Analysis, we discussed. Nifty Bulls should keep an eye on 11750 levels. As holding above it, can give some strength to the bulls. The Nifty Bears should watch 11640 levels, for further downside.
Yesterday Above 11750 Nifty Bulls gets the 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 points profit gain.
Later in the day, Nifty went below 11640 but was not able to sustain, and soon it bounced back.
Yesterday volatile Intraday move was the effect of ‘Natural Time Cycle’ period.
I had already talked about it in my weekly analysis here.
Nifty Technical 20th June Analysis
At present Bears are having an advantage. But, in the meanwhile Bulls are creating crucial support around 11600-11570 levels.
Any close below 11570-11600 range, will add further down side pressure on the index.
On the upper side, Intermediate Resistance is at 11840-860 range.
Nifty bulls need to close above it for getting the momentum back.
Nifty Technical 20th June Intraday Trading Levels
Support for today in Intraday is at 11670/11630/11560 & Resistance is at 11750/11790/11860.
Note: Above mention price projection & other Information are for educational purpose only.
Below 15735-760 zone Nifty Index is weak and can drop more. On the downside, the 15520-499 zone is the important Gann level zone, where Index
Even after a strong weekly close, Nifty & Bank Nifty opened gap down. Both tried to recover, made high near Gann levels, which we discussed