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Nifty Bank Nifty Analysis ahead of FED Policy Meeting

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Today Nifty & Bank Nifty opened with a gap. However, within a few minutes, both bounced back but failed to break the resistance levels (17370/37100) discussed yesterday. Then both traded in the range and ended in the red.

For tomorrow’s session, Nifty bulls need to break & hold above the 17260-270 zone for a bounce. On the downside, 17190 & 17100 are the pivotal support levels.

Bank Nifty managed to hold the 36700 on a closing basis. But Bank Nifty bears have the upper hand until it is trading below the 37100-37300 zone. On the downside, the 36700 & 36350 are the support levels.

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 17260 to move towards 17290/17330/17380/17440.

On the lower side, the Gann support level is 17190; below that Index can move towards 17160/17120/17070/17010.

Bank Nifty Intraday Levels

Bank Nifty bulls need to break & sustain above 37050 to move towards 37200/37400/37650.

On the lower side, the Gann support level is 36700; below that Bank Nifty Index can move towards 36550/36350/36100.

Note: The above levels are for educational purposes only, not Buy/Sell advice.

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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.