Nifty Bank Nifty Trade Plan for 04 May

On Monday, both indices opened gap-down. Then after consolidation, both indices moved higher and ended the session on a flat note. 

Until the Nifty is holding the 16880-800 zone, bulls are in a safe position for an upside move. On the higher side, 17100-120 will act as resistance. 

Bank Nifty bulls need to break and sustain above 36300-400 zone for upside. On the downside, the 35900-800 zone is the support.

nifty bulls are in a safe position

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17050 to move towards 17090/17140/17200/17270.

On the lower side, the Gann support level is 16960; below that Index can move towards 16920/16870/16810/16740.

Bank Nifty bulls are in a safe position

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 36200 to move towards 36350/36550/36800.

On the lower side, the Gann support level is 35800; below that Bank Nifty Index can move towards 35650/35450/35200.

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.