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Nifty Bank Nifty Trading Plan for 12th April

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The Bank Nifty closed below the 32500-700 range on Friday was a sign of weakness.

Before Friday, Bank Nifty many times traded below 32500 but didn’t give CLOSE below that. But on Friday, Index finally gave close below 32500, and today it gets crashed.

Now 30400-30000 range is critical, and from there Index can get some bounce.

From 14264 low Nifty was rising by taking support from steep angle line. And in the earlier analysis, we discussed that rise against steep angle doesn’t stay intact for too long.

steep angle line nifty hourly chart

The same happened on Friday Nifty Index gave close below the Steep angle line, and today it fell 600 points.

Now 14190-14250 range is crucial below that Index can drift lower towards 14080/13990/13830 levels.

Nifty Intraday Trading Levels

Nifty bulls need to break & sustain above 14360 to move towards 14410/14470/14600 levels for tomorrow’s session.

On the lower side, the Gann support level is 14290 below that Index can move towards 14240/14180/14030 levels.

Bank Nifty Intraday Levels

Bank Nifty bulls need to break & sustain above 30999 to move towards 31130/31350/31700 levels for tomorrow’s session.

On the lower side, the Gann support level is 30680 below that Bank Index can move towards 30550/30380/30030 levels. 

Note: The above levels are for educational purposes only, not a 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.