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Nifty Bank Nifty Trading Plan for 31 May

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Today both indices opened gap-up. And after some pullback, both indices held the gains and closed in the green.

Until the Nifty is holding the 16550 levels, the bulls are in a strong position, and they can take the index towards 16950 levels. On the lower side, 16550 and 16400 are the supports. 

Bank Nifty has already rallied well above the space resistance point. And now it needs a close or sustainable move above the 36000-36100 zone for further upside. On the lower side, 35750 and 35200 are the supports

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16700 to move towards 16750/16810/16880/16960.

On the lower side, the Gann support level is 16600; below that Index can move towards 16550/16490/15420/15340.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 36100 to move towards 36250/36450/36700.

On the lower side, the Gann support level is 35750; below that Bank Nifty Index can move towards 35600/35400/35150.

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.