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Nifty Technical Analysis for 24th Sep

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Updated On:

In the last Nifty Analysis, we discussed. Nifty is trading near-critical fixed time cycle period. So we can see more volatile swings. Bears are bit strong and can drag the Index further towards lower levels. Resistance has now shifted at 10835 above that Bulls will get the strength.

After analysis on Friday, after the announcement of a corporate tax cut announcement. Nifty Index completely turned positive above our 10835 levels and showed the historical rally of above 5% in a single day.

The rally from last week continued on Monday. Also, yesterday, Nifty opened around a 300-point gap-up.

Nifty Bears hit the stop loss above 10835, and the Bulls got active above it. They have shown an upmove of around 800 points until now.

For further upside, Nifty Bulls need to sustain above 11680 for the possible move towards 11740/11810/11900 levels.

Nifty bears will get the chance below 11530 for the move towards 11480/11410/11320 levels.

Nifty Intraday Trading Levels for 24th Sep

Resistance for today in Intraday is at 11660; above that move towards 11700/11760/11875 can be seen.

While Support for today is likely to come at 11580, below that, a move towards 11540/11480/11365 can be seen.

Note: The above-mentioned Price projection & other Information are for educational purposes 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.