Last week above 11960 Nifty did our 1st target on the upside. The Index ended the week with 18 points gain.
Nifty Hourly Chart
As per the Nifty hourly chart, Bulls need to trade above 11970 for the up move towards 12020/12110.
On the other hand, Bears will get strength below 11800 levels for the move towards 11750/11660 levels.
Nifty Daily Chart
As per the previous week’s discussion. Nifty need to close above 11973-12010 Gann Resistance range. I fail to do so; then we may see some weakness & correction in the present ongoing rally.
Nifty gave just close just above 12010, but with lack of momentum. Now in the coming days, bulls need to trade above 12070 for the move towards 12120/12210 levels.
On the lower end, bears need the close below 11855 for getting the strength back.
Nifty Weekly Chart
Nifty Trading View For 13-15 Nov
Last week in this section of Nifty Weekly Analysis, we discussed. Now in the coming week, 12000-12025 is the most crucial range. The Index bulls need to clear on closing basis for further rise.
Nifty made the high around 12030 but failed to give a weekly close above 12025 resistance.
Now in the coming week bulls need to trade and hold above 12040 for a further strong upside move.
In the forthcoming week, 13th Nov is the critical date.
Nifty Weekly Trading Levels
Next week 11980 will act as Resistance above which move towards 12040/12120/12240 can seen.
While Support is likely to come at, 11800 below that move towards 11740/11660/11540 can be seen.
Note: Above mention price projection & other Information are for educational purpose only.