In the last analysis, we discussed. The Nifty Index is juggling between a ‘Time & Price’ balance. For further upside, we need the close above the 12230-240 range for the move towards 12305/12370 levels. On the lower side, the significant support for the market is in the 12090-12050 range. However, the market can witness an intermediate weakness below the 12130 level.
After our last post, the Index reached a high of 12246 but failed to get close to it.
As a result, the market went below the 12130 Gann support level and corrected towards 11908 levels.
In the previous post, we also discussed that the trend on the ‘Hourly Chart’ is still up, as Nifty is trading well above our ‘Unique’ angle line.
This trade set-up rewarded well to us & our students who had already learned this proprietary technique.
As on the Monday market, it finally, broke below the ‘Unique’ angle line, which was a Signal that now Sells trade can be taken.
The break of the ‘Unique’ angle line rewards us with nearly 200 points profit and that too, with Safe & minimal risk on the trade.
Now moving forward, Nifty Index bulls need to ensure they hold the 11865-875 range on an EOD basis.
Below, that market can again witness weakness, and we can see the levels of 11780/11690.
Nifty Intraday Trading Levels for 19th Feb
Resistance for today in Intraday is at 12020 above the move towards 12055/12095/12165 can be seen.
While Support for today is likely to come at, 11935 below that move towards 11900/11860/11790 can be seen.
