We discussed the last analysis. Below Gann support level 11990, we can see more downside of 75/150 points. On the upper side, above 12180, we can see Nifty moving towards higher levels.
Yesterday, after a flat opening, bears pulled the Index towards lower levels. The market went below 11990 but failed to give an EOD close below it.
Nifty has multiple supports in the 11920-11990 zone. The range is big, but many critical ‘Time & Price’ analysis methods are advising this only for now.
Swing traders should strictly watch the Price action in the zone, as mentioned above, for clues about the next trending move.
On the upper side, resistance has now shifted to 12100 levels. Above that, we can see Nifty moving towards the 12180/12300 range.
Intraday Nifty Trading Levels for 04th Dec
Today’s Intraday resistance is at 12040, above which the move towards 12070/12120/11200 can be seen.
While Support for today is likely to come at 11950, below that, a move towards 11920/11870/11790 can be seen.
Note: The above-mentioned Price projection & other Information are for educational purposes only.
