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Nifty Trading View for 16th Oct

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Updated On:

In the last Nifty Analysis, we discussed. Bulls need to trade and close above 11423 for the target of 11490 & 11600. The Support at present is still at 11270 only. On holding below that, we can see the downside move of 100/180 points again.

Yesterday after flat open Index moved higher and above 11423 it gets more strength.

By the end of the day, the Nifty made a high around 11470 at the critical Gann Angle line and closed just above 11423.

Due to the close above 11423, bulls are on the strong side, and we can see higher levels.

On the lower side, Support is at 11330, and below that, we can see a dip towards 11260/11170 levels.

Intraday Nifty Trading Levels for 16th Oct

Today’s Intraday resistance is at 11470, above which the move towards 11515/11580/11680 can be seen.

While Support for today is likely to come at 11390, below that, a move towards 11345/11280/11180 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.