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Nifty Continues to Struggle around 12030 Resistance

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Updated On:

In the last Analysis, we discussed. After taking the Support from Angular area on an hourly chart, Nifty continued it’s upside journey. The Index tried to trade above 11990-12030, but the momentum was weaker and hence failed to give EOD close above 12030.

Yesterday Index opened gap up and made the high around 12028 levels. Then later it moved downwards and made the low around 11956 levels.

Short-Term View for Nifty

The again same old story of the last couple of day’s repeated as Nifty failed to hold above 12030. But on Wednesday it surpasses 12030, but momentum was weak.

Our short-term view for Nifty is still the same. For up move, Nifty should hold & give close above 12030 and on downside 11915 will act as short-term support.

Nifty Intraday Trading Levels for 22nd Nov

Resistance for today in Intraday is at 11990 above the move towards 12030/12090/11200 can seen.

While Support for today is likely to come at, 11940 below that move towards 11900/11840/11730 can be seen.

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

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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.