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Nifty Trading Analysis for 23 July

Published On:

Updated On:

In the last Nifty Intraday trading analysis, we discussed. Fall in the Nifty Index can become an excellent opportunity for creating long positions. The 11550-11560 range is the significant support area for today trading session. If Bulls failed to hold the range mentioned above, then we can see a further decline.

On Friday, Nifty opened on a positive note. But soon bears to the charge and drag the Index towards lower levels. Once the 11550 level gets broke Index started the waterfall decline.

Yesterday the weakness continued and Nifty hits the two months lower levels.

Nifty Pullback Range

At present Nifty Bears are having the upper hand. The long term charts are also suggesting the same.

Nifty Bulls need to move above 11495 for getting some energy to come back.

On the lower side short-term support for Nifty Index is in the 11314-11277 range. 

Bulls need to hold this range for a bounce. Bears will get more weight below 11277 levels only.

Nifty Intraday Trading Levels for 23 July

Support for today in Intraday is at 11303/11270/11190 & Resistance is at 11375/11410/11490.

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.