Nifty Bank Nifty Gann Analysis for Friday Trading Session

Today, the Nifty opened with a gap. Then it made the high near resistance level (18270) discussed yesterday and traded in a small range for the whole session. But today, Bank Nifty opened down and traded lower throughout the session.

Above the 18150-130 zone, bulls are strong and can take Nifty Index towards 18350 levels. On the upside, the 18270 is the level where the Nifty may face resistance.

As expected, Bank Nifty faces strong resistance near the 38600-700 zone. And still, bulls need to be careful. Bank Nifty can fall more from the current levels. The major support is at the 38070-37990 zone. And on the upside, 39050 is the resistance.

Nifty faces strong resistance

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 18270 to move towards 18300/18340/18390/18450.

On the lower side, the Gann support level is 18200; below that Index can move towards 18170/18130/18080/18020.

Bank Nifty faces strong resistance

Bank Nifty Intraday Gann Levels

Bank Nifty bulls need to break & sustain above 38650 to move towards 38800/39000/39250.

On the lower side, the Gann support level is 38350; below that Bank Nifty Index can move towards 38200/38000/37750.

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.