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Nifty Bank Nifty Analysis Ahead of FED Policy Meeting

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Updated On:

Today both indices opened higher. But soon, both gave back all the gains, moved downwards, and closed in the red.

Tomorrow, Nifty’s intraday trend will be decided by the 18040-17990 zone, while 18120 will act as resistance.

Bank Nifty’s 41300-40900 range is crucial. Any movement on either side will determine the market’s direction. And in case Bank Nifty breaks and sustains below 40800, then it will become weaker and can move further down.

Nifty Gann levels

Nifty Intraday Gann levels

A break & hold above 18090 will help Nifty bulls move towards 18130/18180/18240/18310.

The Gann support level is 17990; below that, the Index can move toward 17950/17900/17840/17770.

Bank Nifty Gann levels

Bank Nifty Gann levels

Bank Nifty bulls need to break & sustain above 41300 to move towards 41500/41750/42050.

On the lower side, the Gann support level is 40900; below that Bank Nifty Index can move towards 40700/40450/40150.

Note: The above levels are for educational purposes. 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.