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Bank Nifty Resistance For 1000 Points Rally

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It’s always essential to analyze a broader picture of the markets, especially for an Index like Bank Nifty, to know what’s next can come.

In the close study of the Bank Nifty Index chart, I spotted the significant Resistance Range 22400-22700 as Decisive for the next 1000 points move.

If the Index gets close above the mentioned Resistance range on Broader time frames, then probably 1000 or even more than that points rally can be seen.

However, if it fails to do so, then again, pullback for 1000 or even more than that point can occur.

On the lower side, the 22200-150 range is crucial to watch; below that, targets can be 21900/21500/21050 levels.

Otherwise, if you are best in technicals, then follow the Hourly chart to locate the turn on the downside if weakness prevails in the coming sessions.

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.