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Nifty Fell 200 Points Below 12040 Gann level

In the last analysis, we discussed. Nifty bulls need to hold 12040 for continuing the upside move towards 12160/12225 levels. On the upper side, the market can again witness selling pressure near the 12210-225 range.

After our last post, Index made the high around 12152 on Friday.

On Monday, Nifty opened the gap-down below 12040 and corrected it towards 11813 levels. It was resulting in nearly 200 points of profit move.

Now moving ahead, Nifty bears are in a strong position and can drag Nifty Index towards lower levels.

On the upper side, 11900-910 will act as a significant resistance area. Above that, we may see a move towards 11980/12050 levels.

On the lower end, below 11750, we can see further slide towards 11710/11660/11600 levels.

Nifty Intraday Trading Levels

Resistance for today in Intraday is at 11860 above the move towards 11890/11930/12010 can be seen.

While Support for today is likely to come at, 11800 below that move towards 11770/11730/11650 can be seen.