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Bank Nifty Index Fall Ahead?

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Updated On:

From the last couple of trading sessions, the Bank Nifty is trading near support.

Bank Nifty is trading near support

The overall picture has not turned bearish yet, but on a short-term scale, it’s still negative. The range of 23400-23300 is the strong critical area.

From near that Index has tried to move up but failed to hold the gains. In the coming sessions, If the Price break and sustain below 23400-300, then a drop towards the 22900/22600/22400 levels can be seen.

On the higher side, the Bank Nifty Index needs to trade and hold above the 23900 Gann Analysis Price level for a rise towards 24250 and more.

The above-mentioned price ranges are valid only for the next couple of sessions.- Divesh

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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.