Nifty Trading Analysis for 04th Dec

In the last analysis, we discussed. 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 more higher levels.

Yesterday after flat opening, bears pulled the Index towards lower levels. The market went below 11990 but failed to gave EOD close below it.

Nifty Daily Gann Angle Chart

Nifty has multiple supports in 11920-11990 zone. The range is big, but the as 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 hint about the next trending move.

On the upper side now resistance has shifted at 12100 levels. Above that, we can see Nifty moving towards 12180/12300 range.

Intraday Nifty Trading Levels for 04th Dec

Resistance for today in Intraday is at 12040 above the move towards 12070/12120/11200 can seen.

While Support for today is likely to come at, 11950 below that move towards 11920/11870/11790 can be seen.

Note: Above mention Price projection & other Information are for educational purpose only.

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.