Today both the indices opened a 1% gap-up, above the resistance level discussed in yesterday’s analysis (16800/35350). Hence both ended the session with 2% gains.
Until Nifty holds the 16770-800 zone, bulls are in control.
And on the upside, 17010-20 is a resistance zone. If the Index breaks & sustains that, it can rise further towards 17150/17300 levels.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 17010 to move towards 17050/17100/17160/17230.
On the lower side, the Gann support level is 16910; below that Index can move towards 16870/16820/16760/16690.
Bank Nifty Bulls need to hold the 35600-500 zone to rise towards 36500 levels. On the upside, 35900 is the resistance.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 35900 to move towards 36050/36250/36500.
On the lower side, the Gann support level is 35550; below that Bank Nifty Index can move towards 35400/35200/34950.
Note: The above levels are for educational purposes only, not Buy/Sell advice.
