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Nifty Bank Nifty Trading Strategy for Week 01-04 Nov

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Last week, Nifty and Bank Nifty fell heavily. Bank Index did new on Monday, and from there, it well over 3400 points till Friday. Nifty fell over 700 points from the Wednesday high of 18342.

Next week, if Nifty breaks and sustains above the 17900-945 zone, it can trade higher. On the downside, 17600 and 17350 are the important Gann support number.

The 39450-600 is a crucial resistance level for the Bank Nifty. The Bank Nifty range for trading is 38800-39600. Either side breakout (withholding) will decide the trend of the week.

Nifty Weekly Gann Levels

Next week, 02 November, is the Gann date for the Nifty 50 Index.

Resistance is at 17760 levels. Above that, Index can move towards 17810/17870/17940/18020.

Support is at 17600 levels; below that Nifty 50 Index can move towards 17550/17490/17420/17340.

Bank Nifty Weekly Gann Levels

Next week, 02 November, is the Bank Nifty Gann date.

Resistant is at 39400 levels; above that Bank Nifty Index can move towards 39700/40100/40600/41200.

Support is at 38800 levels; below that, Nifty Bank can move towards 38500/38100/37600/37000.

Note: The above levels are only for study. 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.