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Nifty Bank Nifty Gann Analysis for 12 August

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Updated On:

Today both indices opened a 1% gap-up. But then both indices stayed Rangebound for the whole session. 

The 17750-820 zone is a crucial resistance for the bulls. And over that zone, Nifty bulls can take some pause. On the lower side, 17600-580 will act as support

Bank Nifty now needs to hold the 38600-300 zone for further upside. And on the higher side, 39100 & 39500 are the major resistances. 

the crucial resistance for the bulls nifty

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17680 to move towards 17720/17760/17820/17890.

On the lower side, the Gann support level is 17580; below that Index can move towards 17540/17490/17430/17360.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 38950 to move towards 39100/39300/39550.

On the lower side, the Gann support level is 38600; below that Bank Nifty Index can move towards 38450/38250/38000.

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.