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Nifty Trading Outlook for 06 Sep

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Updated On:

We discussed the last Nifty Trading Outlook. Nifty has made the low near our Unique Gann Angle line. Holding below it will increase the risk of more downside. The index’s support is in the range of 10750-720, and resistance is located at 10960 levels.

Yesterday, the Nifty opened slightly on a positive note and traded on the higher side, remaining in a tight range for the rest of the day.

Earlier this week, the Nifty Index precisely took support from our discussed area of 10750-720. From there, it has bounced almost 170 points.

The index’s support remains the same, but resistance has shifted to 10890. Nifty bulls need to close above that for a further rise towards the 10950/11050 levels.

Intraday Trading Outlook for Nifty

Today’s Intraday resistance is at 10890, above which the move towards 10925/10980/11060 can be seen.

While Support for today is likely to come at 10800, below that, a move towards 10765/10710/10630 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.