Today Nifty & Bank Nifty opened with a gap near the resistance levels discussed yesterday (17550/37450). But within a few minutes, both Indices moved lower and gave up all the opening gains, and ended the session flat.
For tomorrow’s session, Nifty bulls need to break & hold above the 17530-550 range to rally further. On the downside, 17390 & 17320 are the supports.
Until Bank Nifty holds the 37150-36950 range on a closing basis, bulls have the upper hand. On the upside, the 37550-600 zone will act as the resistance.
Nifty Intraday Gann Levels
Nifty bulls need to break & sustain above 17550 to move towards 17590/17640/17700/17770.
On the lower side, the Gann support level is 17470; below that Index can move towards 17430/17380/17320/17250.
Bank Nifty Intraday Levels
Bank Nifty bulls need to break & sustain above 37450 to move towards 37600/37800/38050.
On the lower side, the Gann support level is 37150; below that Bank Nifty Index can move towards 37000/36800/36550.
Note: The above levels are for educational purposes only, not Buy/Sell advice.