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Nifty Bank Nifty Weekly Expiry, A Big-Bang Move is Around the corner

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Nifty ends flat, and Bank Nifty closes in green.

We expected the decline today, discussed in yesterday’s report. And fall happened, but only in Nifty. The Bank Nifty was trading strong and traded in the green for the entire session.

There is not much change in levels. But soon, a big move can happen in both the Indices as Price action on the chart is hinting.

The 17425-430 is still a crucial zone for the Nifty 50 Index. If it fails to hold above that, we can see a fall back towards 17290/17220/17130 levels. On the downside, 17320-290 is the support.

And Bank Index needs to hold a 35600-500 zone Gann support zone for a rally towards 36950/37200/37500 levels.

Nifty Intraday Levels

Nifty bulls need to break & sustain above 17390 to move towards 17420/17460/17510 levels.

On the lower side, the Gann support level is 17320; below that Index can move towards 17290/17250/17200.

Bank Nifty Intraday Levels

Bank Nifty bulls need to break & sustain above 36900 to move towards 37050/37250/37500.

On the lower side, the Gann support level is 36600; below that Bank Nifty Index can move towards 36450/36250/36990 levels.

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.