Nifty Bank Nifty Trade Set-Up for 04th October

Today both indices opened a gap-down. Then both regained some gains. But soon, bears again pulled both the indexes lower.

The 16820-16790 zone will play a crucial role tomorrow in deciding the intraday trend. If Nifty sustains below that, then it can fall towards 16730/16660 levels. And on the higher side, the 16900 & 16990 are resistances.

For Bank Nifty, the 37800-38200 range is crucial. Either side’s break withholding will decide the trend for tomorrow’s session.

Nifty bears again pulled

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16920 to move towards 16960/17010/17070/17150.

On the lower side, the Gann support level is 16820; below that Index can move towards 16780/16730/16660/16590.

Bank Nifty bears again pulled

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 38200 to move towards 38350/38550/38800.

On the lower side, the Gann support level is 37900; below that Bank Nifty Index can move towards 37750/37550/37300.

Note: The above levels are for educational purposes. 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.