Nifty Trading View for 05th Feb

In the last analysis, we discussed. Nifty Bulls need to break and close above 11895-910 range for getting some strength back. On the lower side, we can see further lower levels. On holding below 11620, we can see a new slide towards the 11575/11500 range.

Yesterday Index opened gap up and maintained the bullish tone for the rest of the whole session. 

Once the market breaks above the 11895-910 resistance range, it moves fast & made the high around 11986 levels.

Nifty is reaching near the critical Gann angle resistance line (orange); on breaking & holding above it, we can see more upper levels.

For maintaining the bullish tone, Nifty bulls need to hold 11850-860 range. Failing to do so can again bring the market towards lower levels.

Nifty Intraday Trading Levels for 05th Feb

Resistance for today in Intraday is at 12010 above the move towards 12050/12110/12190 can be seen.

While Support for today is likely to come at, 11930 below that move towards 11890/11830/11750 can be seen.

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.