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Nifty Technical Trading Analysis for 17th Oct

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Updated On:

In the last Nifty Analysis, we discussed. Due to the close above 11423, bulls are on the strong side, and we can see higher levels. On the lower side, now Support is at 11330 holding below that we can see a dip towards 11260/11170 levels.

Yesterday, the Index opened gap-up and, after consolidation, closed on the higher side only. Above 11423, the Nifty made a high close of 11481, which is close to our first target of 11490.

Now, to maintain the continuous positive side momentum, bulls need to trade above level 11490 with a target of 11550/11630.

On the downside, Support is still at 11330. Bears can only gain some strength below that.

Nifty Intraday Technical Trading Levels for 17th Oct

Resistance for today in Intraday is at 11495, above the move towards 11535/11595/11695 can see.

While Support for today is likely to come at, 11430 below that move towards 11390/11330/11230 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.