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Bank Nifty Index Rise Ahead?

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Bank Nifty Index Fell over 1000 points after the last analysis. The discussed 23400 level worked perfectly.

Every fall or rise always frames the picture for the next move.

But this time still, the entire setup is not exact at present. The present Bank Nifty Index low is critical from a Broader time frame point.

The range of 22710-22825 is a critical area to watch for further clues about the upside.

At the same time, the ‘ANGLE’ resistance line is also coming around the 22710-825 range only. 

Holding or closing above the mentioned range will add some Positive force for the upside; Potential targets will be around 23200/23800 levels.

On the lower side range is quite large and a bit uncertain as well. 

If we see, Bank Nifty has a significant support area around the 21300-500 range. 

As I said, the present low is critical from a broader time frame analysis.

So, holding or closing below 21980-21900 can increase the chances of more trouble.

I know the range from the upper to the downside level is almost around 1000 points. 

But that’s what charts are suggesting at present. The above price ranges are valid only for the next couple of sessions.- Divesh

Note: The above-mentioned Price projection & other Information is for educational purpose only.

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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.