Nifty Bank Nifty Recover from the Day’s low, can They Close Above 17450 & 37300?

Today Nifty & Bank Nifty opened with a gap below the support levels (17350/36900) discussed yesterday. That was a bearish sign for the day. But both the Indices bounced back by taking the support from the important Gann level. But, both still ended in the red.

For tomorrow’s session, Nifty bulls need to break & hold above the 17370 for a further bounce. On the downside, 17290 & 17200 are the supports.

Bank Nifty managed to hold the 36700 on a closing basis. But bears have the upper hand until it is trading below the 37100-37300 zone. On the downside, the 36700 & 36350 are the support levels.

Nifty bearish sign for the day

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 17370 to move towards 17400/17440/17490/17550.

On the lower side, the Gann support level is 17290; below that Index can move towards 17260/17220/17170/17110.

Bank Nifty bearish sign for the day

Bank Nifty Intraday Levels

Bank Nifty bulls need to break & sustain above 37050 to move towards 37200/37400/37650.

On the lower side, the Gann support level is 36700; below that Bank Nifty Index can move towards 36550/36350/36100.

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.