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Nifty Bank Nifty Down Move Ahead? Trade Set up for Wednesday

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Today both indices opened down, then after some pullback, both again moved lower and closed in the red.

Until the Nifty is holding the 16450, the bulls are in a strong position, and they can take the index towards 16950 levels. On the higher side, 16610 & 16700 are the resistances

The Bank Nifty range for tomorrow is 35700-35200. Either side break withholding will decide the trend of the day. 

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16610 to move towards 16650/16700/16760/16830.

On the lower side, the Gann support level is 16520; below that Index can move towards 16480/16430/15370/15300.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 35700 to move towards 35850/36050/36300.

On the lower side, the Gann support level is 35350; below that Bank Nifty Index can move towards 35200/35000/34750.

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.