We discussed the last Nifty Technical View Analysis. Until we are trading below the 11290-11310 range, bears have the upper hand. We can see the 11184/11140 levels until we are trading below the range mentioned above. The significant support for Nifty is now at 11140; we may see some bounce coming from near it.
Yesterday was the expiry day, so volatility for day traders was at its best. The index moved both ways, first up towards 11361 and then down towards 11239.
Nifty Technical for Short-Term View
The short-term resistance for Nifty has now shifted to 11365 levels. Above that, we can expect a sustainable bounce from the bulls.
Short-term support is at 11210-11200 area, below that we can see the move towards 11140 levels.
If the Bulls manage to hold 11200 weekly today, then they can show some good bounces next week.
Today’s Intraday support is at 11240/11210/11135, and resistance is at 11290/11320/11400.
Note: Above mention price projection & other Information are for educational purposes only.
