Nifty Bank Nifty Loose Early Gains, End the Day on a Negative Note

Today Nifty and Bank Nifty opened with a gap-up and continued to move higher. Then around 10:30 am. Both arrived at the Gann Square level precisely at the top (high) of the day, where both faced the resistance, gave up all the gains, and ended in the red.  

Below 17100 bulls in Nifty are in the danger zone. 

Tomorrow if Nifty breaks and sustains below the 16930 levels. Then, it can slip back towards Monday low (16782). On the upside, 16990 & 17060 will act as the resistance

Bank Nifty close below 36000 is negative for the bulls. 

In tomorrow’s session, keep an eye on the 35950-35500 zone. Whichever side Bank Nifty breaks and sustains, on that side, it can give a trending move. On the upside, 35950 & 36400 are the resistance. 

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 16990 to move towards 17020/17060/17110/17170.

On the lower side, the Gann support level is 16930; below that Index can move towards 16900/16860/16810/16750.

Bank Nifty close below 36000

Bank Nifty Intraday Levels

Bank Nifty bulls need to break & sustain above 35800 to move towards 35950/36150/36400.

On the lower side, the Gann support level is 35500; below that Bank Nifty Index can move towards 35350/35150/34900.

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.