Today, Nifty & Bank Nifty opened with a mild gap but ended the session in the red. Nifty faced resistance at the 17350 level discussed in yesterday’s analysis & fell over 150 points. Bank Nifty again faced resistance from the 38600-700 zone & fell 600 points.
The 18040-17990 zone is a crucial support for the Nifty 50 Index. A further decline can happen below that zone. On the upside, the 18160-200 zone is the resistance.
The 38050-37990 is an important support zone for the Bank Nifty. And on the upside, the 38350 & 38700 zone is the resistance.
Nifty Intraday Gann Levels
Nifty bulls need to break & sustain above 18160 to move towards 18200/18250/18310/18380.
On the lower side, the Gann support level is 18080; below that Index can move towards 18040/17990/17930/17860.
Bank Nifty Intraday Gann Levels
Bank Nifty bulls need to break & sustain above 38350 to move towards 38500/38700/38950.
On the lower side, the Gann support level is 38100; below that Bank Nifty Index can move towards 37950/37750/37500.
Note: The above levels are for educational purposes only, not Buy/Sell advice.