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Trade Plan for 24 August: Indices Ended the day With a Significant Green candle

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Today both the indices opened down. But both didn’t sustain at the lower levels and soon recovered & jumped higher. Then after consolidation, both moved more higher and closed in the green. 

The bears have the upper hand until the Nifty is trading below the 17690 level. And on the lower side, a sustainable move below the 17490-470 zone will add more pressure towards the downside. 

The 38500-400 zone is crucial for Bank Nifty. And until it’s above that, bulls have a strong hand. And on the higher side, 38900 & 39300 are the resistances

nifty bulls have a strong hand

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17650 to move towards 17690/17740/17800/17870.

On the lower side, the Gann support level is 17560; below that Index can move towards 17520/17470/17410/17340.

bank nifty bulls have a strong hand

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 38900 to move towards 39050/39250/39500.

On the lower side, the Gann support level is 38500; below that Bank Nifty Index can move towards 38350/38150/37900.

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.