Bull-trap or an upmove Ahead? Trade Set up for Tuesday

Today both the indices opened flat, then moved down and made the low near Gann square level. Then from that low, both indices rallied and ended the session in the green.

both the indices opened flat nifty

Nifty bulls need to break and sustain above the 17246-17260 zone to move towards 17320/380/450 levels. 

But if bulls fail to move above the 17246-17260 zone, then bears will again gain the upper hand. And in that case, the Nifty can again move down towards 17100/16980 levels.

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17260 to move towards 17300/17350/17410/17480.

On the lower side, the Gann support level is 17160; below that Index can move towards 17120/17070/17010/16940.

both the indices opened flat bank nifty

Until Bank Nifty holds the 35600-400 zone, bulls are strong. And they can take Bank Index towards 35900/36300 levels.

But if Bank Nifty fails to hold the 35600-400 zone, then bears will again gain the upper hand. And in that case Bank Index can again move down towards 35200/34900 levels.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 35900 to move towards 36050/36250/36500.

On the lower side, the Gann support level is 35550; below that Bank Nifty Index can move towards 35400/35200/34950.

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.