Today both indices opened a gap down and closed 1% down.
The bears have the upper hand until the Nifty is below the 16510-550 zone. Then, on the downside, the 16337-300 zone is the support.
Today, the Bank Nifty managed to hold the 34900 level on a closing basis. And now, to show strength, it has to break & sustain above the 35350 level, which will confirm that bulls are again getting stronger.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 16470 to move towards 16520/16580/16650/16730.
On the lower side, the Gann support level is 16380; below that Index can move towards 16330/16270/16200/16120.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 35150 to move towards 35300/35500/35750.
On the lower side, the Gann support level is 34800; below that Bank Nifty Index can move towards 34650/34450/34200.
Note: The above levels are for educational purposes only, not Buy/Sell advice.