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Nifty Bank Nifty Analysis for Tuesday, A Big-Bang Move is Around the corner

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Today, the Nifty opened with a gap and continues to trade higher. And Bank Nifty traded lower and ended mildly in the red.

The 18330-350 zone is a crucial resistance for the Nifty 50 Index. Hence, a further rally can happen only above that zone. On the downside, the 18260 & 18190 are the supports.

As expected, Bank Nifty meets strong resistance near the 38600-700 zone. Bulls need to be careful. The major support is at the 38070-37990 zone. And on the upside, the 38500-650 zone is the resistance.

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 18330 to move towards 18360/18400/18450/18510.

On the lower side, the Gann support level is 18260; below that Index can move towards 18230/18190/18140/18080.

Bank Nifty Intraday Gann Levels

Bank Nifty bulls need to break & sustain above 38500 to move towards 38650/38850/39100.

On the lower side, the Gann support level is 38200; below that Bank Nifty Index can move towards 38050/37850/37600.

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.