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Nifty Bank Nifty Analysis ahead of August Expiry

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Updated On:

Today both the indices opened down. But both didn’t sustain at the lower levels and soon recovered back. Then after consolidation, both moved higher and closed in the green. 

The bears have the upper hand until the Nifty is trading below the 17690-730 zone. And on the lower side, a sustainable move below the 17490-470 zone will add more pressure towards the downside. 

As expected, Bank Nifty today holds 38500 and jumped higher. Until it’s above 38700, it’s in a positive zone and can move further higher. And on the higher side, 39200 & 39500 are the resistances

nifty indices opened down

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17650 to move towards 17690/17740/17800/17870.

On the lower side, the Gann support level is 17560; below that Index can move towards 17520/17470/17410/17340.

bank nifty indices opened down

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 39150 to move towards 39300/39500/39750.

On the lower side, the Gann support level is 38800; below that Bank Nifty Index can move towards 38650/38450/38200.

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.