In the last analysis; we discussed. On the daily chart, the market is trading near-critical Gann Angle support line; now, Nifty bears need to break & hold below that angle support line for further decline. The level will come around 12085. On the upper side, above 12185 Nifty bulls will get some strength.
Yesterday Index opened on the flat note and made the low around 12094 levels. From there, Nifty bulls took charge and pushed the Index towards 12189 levels before the end of the day.
The low of the previous day was near to the Gann Support. The exact support level we discussed two days before on my FaceBook page over here.
Now moving ahead, on the Nifty hourly chart, we are trading near our ‘Unique’ angle line resistance area. On breaking & holding above that, we can see a rise towards 12240/12300 range.
Nifty swing traders should carefully watch market price action near 12200 above that we can see a rise towards 12250/12320 levels.
On the lower side, support is still around 12085 only below that we can see further slide towards 12045/11990 range.
Nifty Intraday Trading Levels for 24th Jan
Resistance for today in Intraday is at 12200 above the move towards 12230/12280/12350 can be seen.
While Support for today is likely to come at, 12140 below that move towards 12110/12060/11990 can be seen.