Nifty Bank Nifty Analysis for Friday Session

Today, Nifty & Bank Nifty opened with a gap down. Then, after some consolidation, both extended the fall. And finally, around 12:20 PM, both made the low from which Bank Nifty jumped over 1000 & Nifty 300 points.

Bears have the upper hand until Nifty trades below the 17300-450 zone. Then, on the downside, the 17050-17010 zone is the support.

The 38230-300 is a crucial zone for the Bank Nifty. If the Index breaks & holds above that zone, it can move higher. On the upside, the 37900 & 37500 are the resistance.

Nifty jumped over 300

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 17130 to move towards 17170/17220/17280/17350.

On the lower side, the Gann support level is 17050; below that Index can move towards 17010/16960/16900/16830.

Bank Nifty jumped over 1000

Bank Nifty Intraday Gann Levels

Bank Nifty bulls need to break & sustain above 38150 to move towards 38300/38500/38750.

On the lower side, the Gann support level is 37800; below that Bank Nifty Index can move towards 37650/37450/37200.

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.