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 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 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.