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Nifty Trading Analysis for 20th Nov

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Updated On:

In the last Nifty Analysis, we discussed. The swing trading view is still the same below 11800; we can see further slide towards 11730/11600 levels. For a substantial upside, we should carefully watch the 12000-12025 Gann resistance zone for upside clues.

Yesterday Index opened on a positive note and made the high around 11958 levels. The Nifty traded in a small range of 77 points.

Yesterday we also discussed. Nifty is trading near the Angular Support Area on the hourly time frame.

The Index again has shown the Perfect bounce from the Angular Support Area. It again rewarded well to our ‘True Market Rhythm’ students.

Now moving ahead resistance on the hourly chart and daily chart are almost similar. One should presently watch the market Price action firmly in the 11990-12030 range for further upside clues.

On the lower side, Primary Support is still at 11800, and intermediate Support is in 11858-11849 range.

Intraday Nifty Trading Levels for 20th 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, 11920 below that move towards 11880/11820/11710 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.