Last week below 12300 Nifty reached a low of around 12087 levels, did our 2nd weekly target on the downside.
In the previous week’s Nifty analysis; we also discussed Index is advancing near the critical ‘Time Cycle’. Where we can see the change in the trend — that ‘Gann Time Cycle’ played a critical role, it pushed the Nifty from the Top to the lower levels.
Nifty Weekly Analysis for 27 Jan-01 Feb
In the coming days, Nifty bulls need to trade above 12370 to get some strength back.
On the lower end, significant support is around 11200, below that we can see a dip towards 12150/12090/12020 levels.
In the forthcoming week, 27th Jan & 01st Feb are the critical dates.
Nifty Weekly Trading Levels
Next week 12310 will act as Resistance above, which move towards 12370/12440/12560 can be seen.
While Support is likely to come at 12200 below that move towards 12140/12070/11950 can be seen.
Note: Above mention Price projection & other Information are for educational purposes only.
