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Nifty Bank Nifty Gann Analysis for 07th October

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Today after the gap-up opening, both indices consolidated in a small range. And in the last session of the day, both moved downwards. But both closed in the green with nearly half a percent gains.

In tomorrow’s session, the 17280-240 zone will play a crucial role tomorrow in deciding the intraday trend of the Nifty. Until the Nifty is above the 17280-240 zone, it can reach 17500/17800 levels. And on the higher side, the 17420 & 17499 are resistances.

For Bank Nifty 39050-38800 range is crucial. And until Bank Nifty is trading above that zone, it can go towards 40100 levels. And on the higher side, the 39500-600 zone is the resistance.

nifty indices consolidated in a small range

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17370 to move towards 17410/17460/17520/17590.

On the lower side, the Gann support level is 17280; below that Index can move towards 17240/17190/17130/17060.

Bank Nifty indices consolidated in a small range

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 39450 to move towards 39600/39800/40050.

On the lower side, the Gann support level is 39100; below that Bank Nifty Index can move towards 38950/38750/38500.

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.