Today both the indices opened a gap-up. Then after consolidation, both moved higher and faced resistance from the levels (17730/39500), which we discussed in yesterday’s analysis. And from there, both fell like anything and closed in the red.
The bears have the upper hand until the Nifty is trading below the 17690-730 zone. And on the lower side, a sustainable move below the 17490-470 zone will add more pressure towards the downside.
Bank Nifty faced resistance exactly from near the 39500. And now bears have a strong hand until it’s below 39200-300 zone. On the lower side, the 38800-700 zone is the support.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 17590 to move towards 17630/17680/17740/17810.
On the lower side, the Gann support level is 17490; below that Index can move towards 17450/17400/17340/17270.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 39150 to move towards 39300/39500/39750.
On the lower side, the Gann support level is 38800; below that Bank Nifty Index can move towards 38650/38450/38200.
Note: The above levels are for educational purposes. Not Buy/Sell advice.
