The Sell-off Continues: Nifty Bank Nifty Started the Week on a Bearish Note

Nifty and Bank Nifty opened with a mild gap up. But within a few minutes, bears pulled both the Indices lower, and Nifty hit a low of 17280 & Bank Nifty 36655.

Until Nifty is trading below the 17490-550 zone, bears have the upper hand. On the downside, 17360 & 280 are the supports.

Below 37300-600 zone Bank Nifty is weaker and can fall more if soon it doesn’t trade above that zone. On the downside, 36900 & 36500 are the supports.

Nifty bears have the upper hand

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 17440 to move towards 17480/17530/17590/17660.

On the lower side, the Gann support level is 17360; below that Index can move towards 17320/17270/17210/17140.

Bank Nifty bears have the upper hand

Bank Nifty Intraday Levels

Bank Nifty bulls need to break & sustain above 37300 to move towards 37500/37800/38200.

On the lower side, the Gann support level is 36900; below that Bank Nifty Index can move towards 36700/36400/35950.

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.