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Nifty Analysis for 03rd Dec

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Updated On:

We discussed in the last analysis that Nifty can move towards higher levels. But for that, bulls need to hold Gann support level 11990 on a closing basis. On the upper side, the next resistance is around 12275 levels.

After our last post on Friday, the Index opened on a flat note. But soon, bears dragged the Nifty towards the lower side. On that day, the Index made a low near the 12017 range.

Yesterday, after the bullish opening market, the Nifty failed to hold higher levels, and bears again dragged it towards 12023 levels.

The plan is still the same; below Gann support level 11990, we can see more downside of 75/150 points.

We can see Nifty moving towards higher levels on the upper side above 12180.

Intraday Nifty Trading Levels for 03rd Dec

Resistance for today in Intraday is at 12085 above the move towards 12115/12165/11255.

While Support for today is likely to come at 12000 below that, a move towards 11970/11920/11830 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.