Nifty Trading Outlook for 06 Sep

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

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

Earlier in this week Nifty Index precisely took support from our discussed area 10750-720. From there till now Nifty has bounced almost 170 points.

The support for the Index is still the same, but now resistance is shifted at 10890. Nifty bulls need to close above that for a further rise towards 10950/11050 levels.

Intraday Trading Outlook for Nifty

Resistance for today in Intraday is at 10890 above the move towards 10925/10980/11060 can seen.

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

Note: Above mention Price projection & other Information are for educational purpose only.

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.