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Nifty Bank Nifty April Expiry Analysis: A Big-Bang move is Around the Corner

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Today, both indices opened with a gap down. Then after consolidation, both indices again moved lower and ended the session in the red.

Nifty today did the low around crucial Gann support number 16950. If bulls manges to hold that level, then the Nifty can move higher. But if bulls fail to do so, then the Nifty may move lower towards 16800 levels. On the higher side, the 17150 level can act as resistance.

The 35900-750 zone is an important support for Bank Nifty Index. If Index manages to hold that zone, then it can move up. And on the higher side, the 36250-300 zone can act as resistance.

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17090 to move towards 17130/17180/17240/17310.

On the lower side, the Gann support level is 17000; below that Index can move towards 16960/16910/16850/16780.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 36200 to move towards 36350/36550/36800.

On the lower side, the Gann support level is 35900; below that Bank Nifty Index can move towards 35750/35550/35300.

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.