Today Nifty and Bank Nifty opened with a gap-up. And for the whole session, both traded above the resistance levels (17060/35950) discussed in yesterday’s report. So that was a bullish sign. And as a result, both ended the session with 1% gains.
Above 17050-30 bulls in Nifty are in the safe zone.
Tomorrow if Nifty breaks and sustains above the 17220-230 zone. Then, it can move higher back towards 17270/350 levels. On the downside, 17120 & 17040 will act as the support.
Bank Nifty bulls are also in the safe zone above 36300 levels. Now they need to hold the 36100-35950 zone to rally further. On the upside, 36500 will act as the resistance.
Nifty Intraday Gann Levels
Nifty bulls need to break & sustain above 17190 to move towards 17230/17280/17340/17410.
On the lower side, the Gann support level is 17120; below that Index can move towards 17080/17030/16970/16900.
Bank Nifty Intraday Levels
Bank Nifty bulls need to break & sustain above 36500 to move towards 36650/36850/37100.
On the lower side, the Gann support level is 36150; below that Bank Nifty Index can move towards 36000/35800/35550.
Note: The above levels are for educational purposes only, not Buy/Sell advice.