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Are Bulls Showing Positive Signs? Nifty Hourly Chart Analysis

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Updated On:

In the last week, I explained The Cycle of Lows in Nifty 50 Index is going to hit in the next couple of trading sessions.

This week, that time cycle has its deadline. As in the past, the rule had worked this time, and maybe again, Cycle shifted the odds in favour of bulls.

Follow Closely … Support Area for Nifty Bulls 

Today’s low is near the Critical support zone; as critical cycles or such times arrive, the Market’s actions express themselves in extraordinary style.

On the upper hand, the 10455-480 (RED) zone will play a crucial role if the Market reaches there. So, Bulls may gain momentum if the price rises above a certain level. It’s important to closely monitor the price if it moves beyond this zone.

On the lower end, 10250-230 (Green) is the significant Support area for Nifty Bulls.

If the Market breaks that area and starts continuous holding below that then further drop is possible.

I’ve set the groundwork for you. Watch the Market’s action to make the right decision. – Divesh

Note: The above-mentioned Price projection & other Information is 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.