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Trade Set-Up for 12 October: Nifty Bank Nifty End Lower for the Third Straight Session

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Today both indices opened down to flat. Then both traded within a narrow range and later moved further down and closed in the red. 

In tomorrow’s session, the 16920-900 zone will play a crucial role in deciding the Nifty Intraday trend. And on the higher side, the 17060-100 zone will act as resistance.

For Bank Nifty 38500-400 range is crucial. If Bank Nifty holds that support zone, then it can give bounce. And on the higher side, the 38850 & 39350 are the resistances.

the Nifty Intraday trend

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17010 to move towards 17050/171100/17160/17230.

On the lower side, the Gann support level is 16910; below that Index can move towards 16870/16820/16760/16690.

the Bank Nifty Intraday trend

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 38850 to move towards 39000/39200/39450.

On the lower side, the Gann support level is 38500; below that Bank Nifty Index can move towards 38350/38150/37900.

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.