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Nifty Gann Analysis for 21st Nov

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Updated On:

In the last Nifty Index Analysis, we discussed. The resistance on the hourly chart and daily chart are almost similar. One should presently watch the market Price action firmly in the 11990-12030 range for further upside clues. On the lower side, Primary Support is still at 11800, and intermediate Support is in 11858-11849 range.

Yesterday Index opened on a positive note and made the high around 12038 levels.

Soon after making the high near to our Gann resistance level, Nifty started correcting and made the low around 11966.

After taking the Support from Angular area on an hourly chart, Nifty Index continued it’s upside journey and rewarded well with nearly 150 points profit to our ‘True Market Rhythm’ students.

The Index tried to trade above 11990-12030, but the momentum was weaker and hence failed to give EOD close above 12030.

For active upside move market should hold & give EOD close above 12030 for the move towards 12095/12200 levels.

On the lower hand, now Support has shifted at 11915, below that we can see a move towards 11865/11790.

Intraday Nifty Trading Levels for 21st Nov

Resistance for today in Intraday is at 12020 above the move towards 12050/12100/11200 can seen.

While Support for today is likely to come at, 11960 below that move towards 11930/11880/11790 can be seen.

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