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Nifty Bank Nifty Analysis ahead of RBI’s policy meet

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Today Nifty and Bank Nifty opened with a gap of 1% and continued to trade on a positive note. And both ended the session with over 1.5% gains.

For tomorrow’s session, Nifty bulls need to hold the 17120-100 zone to rally further. On the upside, 17250 & 17320 will act as the resistance.

The 36700-950 zone is a crucial hurdle for Bank Nifty bulls. They need to break and sustain well above that zone to rally more. On the downside, 36400-300 is the support zone.

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 17200 to move towards 17230/17270/17320/17380.

On the lower side, the Gann support level is 17120; below that Index can move towards 17090/17050/17000/16940.

Bank Nifty Intraday Levels

Bank Nifty bulls need to break & sustain above 36800 to move towards 36950/37150/37400.

On the lower side, the Gann support level is 36500; below that Bank Nifty Index can move towards 36350/36150/35900.

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.