Nifty Trend Today Technical Analysis for 04-12-2019 13:00:04

by wealthmann

December 4, 2019

7

In 1 hour chart Nifty price continues to trade at 11994.4 and above the (Exponential Moving Average)EMA200 value of 11906.3 and keeps its stability above until now, while 1 hour MACD Of 12,26,9 is in Sell mode. Therefore, we will keep our Buy overview conditioned by the price stability above

However, if Nifty continues to trade above level, that could be an extraordinarily Bullish sign for Nifty

Even so, the 200-candle Exponential moving average (EMA) price range of 11906.3 is proving a tough nut to crack.

Pivot (invalidation): 12045.8

Our preference: Long positions above 12094.9

Alternative scenario: Below 12001.6 look for further downside.

Support Resistance Levels For Nifty Today at 04-12-2019 13:00:04

Pivot: 12045.8

Resistance 1: 12094.9

Resistance 2: 12139

Resistance 3: 12188.1

Support 1: 12001.6

Support 2: 11952.5

Support 3: 11908.4

Yesterday High Low Close For Nifty

Yesterday High: 12090

Yesterday Low: 11996.7

Yesterday Close: 12050.7

Today at 04-12-2019 13:00:04 Nifty trading at 11994.4 with high of 12063.5 and low of 11983.6