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Nifty Technical View for 02 Aug

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Updated On:

In the last Nifty Technical Trading Analysis, we discussed that for the upside momentum, Nifty bulls need to close above the 11175 resistance levels. The intermediate support for Nifty is at 11015. Any close below that can drag the Index towards 10945/11870/10800.

Yesterday Index opened on a negative note. Once the 11015 gets broken Nifty bears drag the market towards below 10881 levels.

After hitting the 10881 low, Nifty bulls showed a strong upside move of nearly 100 points.

To maintain this upside momentum, Nifty bulls need the close above 11175 resistance.

On the lower side, Support is now at 10885. Below, we can see the next slide.

Nifty Intraday Technical Trading Levels for 02 Aug

Resistance for today in Intraday is at 11040 above the move towards 11080/11145/11220 can be seen.

While Support for today is likely to come at 10963, below that, a move towards 10925/10880/10820 can be seen.

Note: The above-mentioned Price projection & other Information are for educational purposes 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.