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Nifty Bank Nifty Analysis May Expiry

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Updated On:

The last analysis levels worked superbly.

Both Indices traded in tight (small range), mainly Bank Nifty.

The Bank Index Price action suggests that bulls are creating the support in the 34600-400 range. Holding or a close below this range will give an edge to the bears.

The Nifty 50 Index shows excellent strength and closed above the 15280 levels.

That suggests bulls are in a strong position and can rally further until the Index is trading above the 15250-230 range.

Nifty Index Price action

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 15320 to move towards 15350/15390/15470 levels.

On the lower side, the Gann support level is 15230; below that Index can move towards 15190/15140/15060.

bank nifty index price action

Bank Nifty Intraday Gann Levels

Bank Nifty bulls need to break & sustain above 34950 to move towards 35100/35300/35700.

On the lower side, the Gann support level is 34600 below that Bank Index can move towards 34450/34250/33850 levels.

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

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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.