Nifty Bank Nifty UP Move Ahead? Trade Set up for Friday

Today, Nifty closes above 15350. But the Bank Nifty movement was dull.

Until Bank Nifty is trading below 35950-36050 zone, bears are in control. But today’s Price action was a bit in favor of bulls.

And 35700-600 is a support zone, which Bank Index is holding well on the closing basis. So, there are chances of upward movement in the coming sessions if Bank Nifty maintains the 35700-600 zone.

Above 15350, bulls in Nifty are getting the control back. Now they need to hold 16320-16290 support zone for more upside.

Nifty movement was dull

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 16390 to move towards 16420/16460/16510 levels.

On the lower side, the Gann support level is 16320; below that Index can move towards 16290/16250/16200.

Bank Nifty movement was dull

Bank Nifty Intraday Gann Levels

Bank Nifty bulls need to break & sustain above 36050 to move towards 36200/36400/36650.

On the lower side, the Gann support level is 35700; below that Bank Nifty Index can move towards 35550/35350/35100 levels.

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.