On Friday, both indices closed above the resistance (17560/36600), which we discussed for the past few days. And from there, both indices have rallied by over 3%. Today both opened with a gap-up and then rallied further and closed in the green.
Until the Nifty holds the 18010-17980 zone, bulls are stronger and can move towards 18250 levels. But If bulls fail to hold the 18010-17980 zone, then we can see a pullback towards 17840/17700 levels.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 18100 to move towards 18140/18190/18250/18320.
On the lower side, the Gann support level is 18010; below that Index can move towards 17970/17920/17860/17790.
To rally more, Bank Nifty bulls need to hold the 38100-38450 zone. But, if they fail to do so, then a pullback towards 37400/36600 can happen.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 38800 to move towards 38950/39150/39400.
On the lower side, the Gann support level is 38450; below that Bank Nifty Index can move towards 38300/38100/37850.
Note: The above levels are for educational purposes only, not Buy/Sell advice.