Nifty Weekly Analysis 31-04th Jan

As posted in the last analysis: 10828 will act as resistance for Nifty above which move towards 10899 / 10980 can be seen and 10700 will act as support below which move towards 10550 / 10400 can be seen.

Last week, Nifty did our 1st target as soon as it started trading below our support level of 10700. I also mentioned the important level of 10550, which worked ideally, as bulls took the chargeback from very close to that level only.

Now next week,10965 will act as significant resistance above that move towards 11100 / 11250 can be seen, and 10799 will act as support below which move towards 10730 / 10600 can be seen.

PS: In the upcoming week, the importance of resistance levels will be more as we are near to the culmination of the critical cycle.

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