We discussed the last Nifty Technical Outlook and Analysis. The Nifty is trading within a near-critical fixed-time cycle period. The Nifty swing trading levels are still the same. The bulls need to move above 10960 to regain their energy. Bears need to break and sustain below 10750 levels to continue sliding.
Yesterday, the Index opened a gap down and continued to trade on a weaker note for the whole session. Once it started trading below 10750, it became weaker and reached a low of around 10670.
As we discussed in the previous analysis, the Nifty is trading near a critical fixed-time cycle period, so we can see more volatile swings in today’s session.
Now, moving ahead, Bears can drag the Index further towards 10645/10575/10480 levels.
On the upper end, Resistance has now shifted to 10835. Above that, the Bulls will gain some strength. Until then, we can see more weakness.
Intraday Nifty Technical Outlook/Levels for 19th Sep
Today’s Intraday resistance is at 10730, above which the move towards 10765/10815/10900 can be seen.
While Support for today is likely to come at 10660, below that, a move towards 10625/10575/10490 can be seen.
Note: The above-mentioned Price projection & other Information are for educational purposes only.
