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Nifty BankNifty Analysis for 17the June

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Updated On:

Today both indices opened gap-up and faced the resistance exactly from the levels (15850/33800), which we discussed in yesterday’s analysis. Then, both indexes fell over 3% and closed in the red. 

The 15300 is an important level for the Nifty, and if it breaks & sustains below that, it can fall towards 14900/14600 levels. On the higher side, a close above 15850 will strengthen the bulls

The 32032-31900 is a crucial zone for the Bank Nifty Index. And if it breaks and holds below that, then it can fall towards 31400/30800 levels. On the higher side, a close above 33100 will strengthen the bulls. 

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 15460 to move towards 15520/15600/15700/15850.

On the lower side, the Gann support level is 15300; below that Index can move towards 15240/15160/15060/14900.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 32800 to move towards 33100/33600/34200.

On the lower side, the Gann support level is 32200; below that Bank Nifty Index can move towards 31900/31400/30800.

Note: The above levels are for educational purposes. Not a 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.