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Nifty Bank Nifty Analysis for Wednesday: A Big-Bang move is Around the Corner

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Today both indices opened flat. Then moved higher, and faced resistance at the levels (16269/34450) discussed in yesterday’s analysis. And then moved lower and then again went up and again came down. So, all in all, both indices moved on both sides and, in the last closed flat.

The 16180-200 is a crucial resistance zone for the bulls. And if the Nifty breaks and sustains above that zone, then it can rise further. On the lower side, 16070 is the support.

The 34100-34000 is an important support zone for the Bank Nifty bulls. And if it breaks and sustains below that zone, then it can decline more. And on the higher side, the 34450 & 34900 are the resistance.

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16170 to move towards 16220/16280/16350/16430.

On the lower side, the Gann support level is 16070; below that Index can move towards 16020/15960/15890/15810.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 34450 to move towards 34600/34800/35050.

On the lower side, the Gann support level is 34100; below that Bank Nifty Index can move towards 33950/33750/33500.

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.