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Trade Plan for 07 June: A Big-Bang MOVE is Around the Corner

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Today both indices opened gap down. But soon, both jumped back higher and managed to close flat.

Until the Nifty is holding the 16450 (on a closing basis), the bulls are in a strong position and can take the index towards 16950 levels. On the higher side, 16670 is the resistance. 

The Bank Nifty has many supports between the 35200-34900 zone. So, bulls have to hold that area to bounce. On the upside, the 35450-600 zone is the resistance.

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16610 to move towards 16650/16700/16760/16830.

On the lower side, the Gann support level is 16510; below that Index can move towards 16470/16420/15360/15290.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 35150 to move towards 35000/34800/34550.

On the lower side, the Gann support level is 35450; below that Bank Nifty Index can move towards 35600/35800/36050.

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.