Nifty Bank Nifty Trading Strategy for Wednesday

Nifty and Bank Nifty today continue the rally. The Bank Index ends flat. It traded between support and resistance levels the whole day, which we discussed in yesterday’s report.

Now, to keep this bullish momentum, Bank Nifty needs to hold the 36220-36190 zone. On the higher side, 36650 is the resistance level.

The 17139-17160 zone may act as a hurdle for Nifty bulls. If the Index cannot break and sustain above this range, then a pullback can happen.

And above the 17139-17160 zone, Nifty can rally towards 17330/17450, where the next strong resistance lies. On the downside, 16950-16915 is the support.

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 17150 to move towards 17180/17220/17270/17330 levels.

On the lower side, the Gann support level is 17080; below that Index can move towards 17050/17010/16960/16900.

Bank Nifty Intraday Gann 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 36200; below that Bank Nifty Index can move towards 36050/35850/35600 levels.

Note: The above levels are for educational purposes only, not Buy/Sell advice.

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.