In the last analysis, we discussed. Nifty broke below the 12140, which indicates short-term weakness in the market. Now moving ahead, we can see some further decline; towards 12050 levels. On the upper side, 12180 is the resistance holding above that can bring bulls back into the game.
After our last analysis on Friday Index opened with gap up and moved above 12180; which gave the strength to the bulls & nullify the lower targets.
Nifty bulls continue this strong force on Monday also, and yesterday they made the high around 12286 levels.
Now moving ahead Nifty bulls needs to break & trade above 12310 for the target of 12360/12430 range.
On the lower end; below 12180, we can see a dip towards 12130 levels; which is the next intermediate support for Nifty Index.
On holding below that, we can see a further decline towards 12050 levels on a short-term basis.
Intraday Nifty Trading Levels 31st Dec
Resistance for today in Intraday is at 12295 above the move towards 12330/12380/11460 can seen.
While Support for today is likely to come at, 12215 below that move towards 12180/12130/12050 can be seen.
Note: Above mention Price projection & other Information are for educational purpose only.