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Nifty Bank Nifty Trade Plan for 07 September

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Today both indices opened with a gap-up, but soon both reversed the gains. Then around 10:30 am, both took support from Square level & jumped back near the day high. And over there, both faced resistance from the Square level and gave up most of the gains.

Tomorrow in Nifty, the 17580-550 zone will play an important role. 

A sustainable move below that zone can take the index towards 17460/17330 levels. And on the higher side, the 17680-700 area will act as resistance. 

And in Bank Nifty tomorrow, the 39500-400 zone is crucial.

If Bank Index breaks and holds below that zone, it can move towards 39200/38800 levels. And on the higher side, the 39800 & 40100 will act as resistance

nifty support from Square level

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17690 to move towards 17730/17780/17840/17910.

On the lower side, the Gann support level is 17590; below that Index can move towards 17550/17500/17440/17370.

Bank Nifty support from Square level

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 39800 to move towards 39950/40150/40400.

On the lower side, the Gann support level is 39450; below that Bank Nifty Index can move towards 39300/39100/38850.

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.