Subscribe and Get Our ‘Special Market Analysis Reports’ In Your Inbox.

Nifty Analysis for 31st Jan

Last Updated: January 31, 2020 By Divesh

In the last analysis; we discussed. The trading plan for the Nifty 50 Index is still the same; Bulls need to move above 12220 for getting the strength back. Till then, bears are in a strong position and can again drag the Nifty towards 12000/11950 levels. At the lower end, the intermediate support is around 11950-955 range.

Yesterday Index opened on the flat note; Nifty made the high near 12150, near to the Intraday trading level Resistance range. From there, bears dragged the Index towards lower levels. 

nifty 5 min intraday chart
Nifty Jan Expiry Trading Session Intraday Chart

In the previous, we were having the F&O Expiry; the event was beneficial for Intraday traders.

As Nifty falls almost 140 points from it’s Intraday high, our ‘Hook Timing Method’ students seize that short-trade opportunity, with minimal risk.

nifty gann angle chart
Nifty Daily Gann Angle Chart

We have Budget tomorrow, so before that, we may see some short covering in the market.

The 12000-11960 Nifty zone can act as a bounce-back area; now, bears need the close below this range for further downside.

On the upper side, now resistance has shifted at 12160-170 range; above that, we can see the move towards 12220/12310 levels.

Nifty Intraday Trading Levels for 31st Jan

Resistance for today in Intraday is at 12070 above the move towards 12100/12150/12220 can be seen.

While Support for today is likely to come at, 12000 below that move towards 11970/11920/11850 can be seen.

Related Posts
  • Nifty Trading View After 1100 Points Rally
    Nifty Index bulls are going up through the elevator. Many traders missed this rally. And are...
    08 October 2020, 21:33
    Read More
  • Nifty Short-term Trading View After 1000 Points Fall
    After 1000 points, correction bulls got the support near august month low. But the road ahead ...
    29 September 2020, 20:45
    Read More
  • Nifty Breaks The Last 11185 Swing Low
    The volatility stands high. During such times you should remain extra cautious before making the ...
    22 September 2020, 21:04
    Read More
  • Nifty Analysis After Today’s Big Fall
    Nifty Price Action Holds The Key Now For Bulls Bears continue the show of last week. And today s...
    21 September 2020, 20:18
    Read More
  • ‘TWO’ Decisive Levels Nifty Bulls Need To Watch
    The Nifty Index bulls are hovering around significant levels. You should watch these 'TWO' levels...
    15 September 2020, 21:45
    Read More

Tags

Hook Timing Method, Nifty Intraday Trading Levels


You may also like

Nifty Bank Nifty Weekly Trading Levels 17-20 Nov

Successful Trading Rules to Make Better Profits

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}
>