Nifty Technical Outlook for 16 Aug

In the last Nifty Technical Outlook Analysis, we discussed. Bulls need to hold 10835-10815 range for a bounce back. On the other hand, bears need to protect 11036 levels for continuing this downside rally.

On Wednesday Nifty Index opened on a positive note and continued to trade higher for the whole session.

Technical Outlook for Nifty Intraday Trading

Nifty bulls traded above 11036 but failed to give EOD close above it. For further upside, we need close above 11036 levels.

On the lower side Nifty Bears need to trade below 10900 for the move towards 10850/10790/10720.

Nifty Intraday Trading Levels for 16th Aug

Resistance for today in Intraday is at 11080 above the move towards 11115/11160/11220 can seen.

While Support for today is likely to come at, 10990 below that move towards 10955/10910/10850 can be seen.

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

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.