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The Nifty Bears Trying Hard to Pull Down

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We discussed the last analysis. For Nifty 12110-120, the small resistance area near its Index is witnessing a bit of weakness. The Primary support level on the downside has now shifted to 11930.

Yesterday Index opened on a positive note and then for the rest of the session, it traded in a small range of just 60 points. The high for yesterday was around 12114, near our discussed resistance range.

The trading plan is clear: Bulls need to trade and hold above the 12110-120 range for a fresh round of strong rallies. The Nifty bears, on the other hand, will only get active and forceful below the 11930 levels.

Intraday Nifty Trading Levels for 28th Nov

Today’s Intraday resistance is at 12135. Above that, the move towards 12170/12240/11340 can be seen.

While Support for today is likely to come at 12060, below that, a move towards 12025/11955/11855 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.