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Late recovery helps Indices to end in Green

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Today both the indices opened with a gap. Then after consolidation, both again moved down and made the low around 01:00 pm. And from that low, both indices jumped 3% higher and closed in the green.

Until Nifty is holding 15970-930 zone, bulls are strong. 

On the higher side Index can face resistance around the 16090 levels. But if it sustains above, bulls can see a rally towards 16250 levels.

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16050 to move towards 16090/16140/16200/16270.

On the lower side, the Gann support level is 15960; below that Index can move towards 15920/15870/15810/15740.

Bank Nifty bulls need to hold the 32950-800 zone for further upmove.

On the upside, 33500 is the major resistance. If it manages to sustain above that, Bank Index can move towards 34000/34700 levels. 

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 33300 to move towards 33450/33650/33900.

On the lower side, the Gann support level is 32950; below that Bank Nifty Index can move towards 32800/32600/32350.

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.