We discussed the last Nifty Trading Analysis. Nifty bears are in a strong position until the Index trades below 10960. Support is in the range of 10750-10720.
Yesterday, the Nifty opened flat. Later, bears dragged the Index towards a lower level. The low was in our support range only.
As we discussed yesterday, the 10750-10720 Nifty range is a critical support area. A further sell-off can happen only below this range.
Additionally, yesterday’s low is also near our unique Nifty Gann Angle Support line ( Green color). Holding below it and the range mentioned above will give further energy to the Nifty bears.
The Primary resistance for the Nifty Index on the upside is at only 10960 levels. Above that, the Nifty Bulls can gain strength for an upside move.
Intraday Nifty Trading Levels for 05th Sep
Today’s Intraday resistance is at 10865, above which the move towards 10900/10950/11035 can be seen.
While today’s support is likely to come at 10790, below that, a move towards 10755/10705/10620 can be seen.
Note: The above-mentioned Price projection & other Information are for educational purposes only.
