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Nifty Bank Nifty Trade Plan for 02nd November

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Today both indices opened higher. But, both faced resistance around 11:00 am from the SOC Method level and moved down.

Tomorrow, Nifty’s intraday trend will be decided by the 18190-220 zone, while 18120 will act as support.

Bank Nifty’s 41400-41100 range is crucial. Any movement on either side will determine the market’s direction. And in case Bank Nifty breaks and sustains below the 40900-800 range, it will become weaker and can move further down.

Nifty's intraday trend

Nifty Intraday Gann levels

A break & hold above 18220 will help Nifty bulls move towards 18280/18350/18430.

The Gann support level is 18120; below that, the Index can move toward 18060/17990/17910.

Bank Nifty's intraday trend

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 41400 to move towards 41550/41750/42000.

On the lower side, the Gann support level is 41100; below that Bank Nifty Index can move towards 40950/40750/40500.

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.