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Nifty Technical Outlook for 22nd Aug

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Updated On:

In the last Nifty Outlook, we discussed. The 11000-10970 Nifty area will act Critical short-term support for the rest of this week below that we can see Nifty moving towards 10910/10840 levels.

Yesterday soon after flat opening bears drag the Nifty on the lower side.

Once the Nifty Index started sustaining below 10970, it becomes weaker, and we got our 1st target of 10910.

Now Nifty bulls need to hold 10900 levels for a bounce-back, failing to do so will add some more pressure to the Index.

Below 10900 we can expect the Nifty move towards 10845/10770 levels. On the upper side, Primary resistance is at 11185, but for now, that is quite far.

Nifty Outlook for Intraday Trading

Resistance for today in Intraday is at 10955 above the move towards 10990/11040/11120 can seen.

While Support for today is likely to come at, 10890 below that move towards 10855/10805/10725 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.