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Nifty Technical Analysis for 29 Aug

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Updated On:

In the last Nifty Technical Analysis, we discussed. Nifty is facing resistance near the high previous swing high of 09th Aug. Bulls need to close above 11170-11185 range for further upside. The support on the lower side is at 10980 below that we can again see lower levels.

Yesterday after flat opening Nifty bears drag the market towards the lower levels. The selling pressure in Intraday was a bit strong.

As a result of it today Nifty made the low around 10987 close to our support level. In the last hour of trading, bulls showed some energy and Index bounced around 75 points from the day low.

The positional view is still the same. Nifty Bulls should break and get EOD close above 11170-11185 levels.

For further downside, Nifty bears should break 10980 and sustain below it. If that happens then, Index can again revisit lower levels around 10915/10800.

Nifty Intraday Technical Analysis for 29th Aug

Resistance for today in Intraday is at 11090 above the move towards 11125/11175/11255 can seen.

While Support for today is likely to come at, 11000 below that move towards 10965/11915/11835 can be seen.

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