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Weekly Expiry Trade Plan: Indices Closed with Strong Gains

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Today both indices opened gap-up. Then, after consolidation, both moved higher and closed with a 1% gain. 

Now Nifty bulls need to hold 15900 to maintain the positive stance. And on the higher side, the 16040-60 zone will act as the resistance.

Bank Nifty managed to close above the resistance 34050, and now it needs to hold the 33950-34050 zone to rally further. On the upside, 34500 is the resistance. 

Nifty Intraday Gann levels

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16000 to move towards 16050/16110/16180/16260.

On the lower side, the Gann support level is 15900; below that Index can move towards 15850/15790/15720/15640.

Bank Nifty Intraday Gann levels

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 34500 to move towards 34650/34850/35100.

On the lower side, the Gann support level is 34150; below that Bank Nifty Index can move towards 34000/33800/33550.

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.