Nifty Bank Nifty Closed higher for the 5th Consecutive session

Today both the indices opened with a gap. Then after consolidation, both again moved higher and kept moving higher for the whole session. As a result, Nifty closed 1.45% & Bank Nifty was 2.22% higher. 

nifty bulls are in a strong position

Until Nifty is holding 16700, bulls are in a strong position. On the higher side, 16930 & 17010 will act as resistance.

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16930 to move towards 16970/17020/17080/17150.

On the lower side, the Gann support level is 16840; below that Index can move towards 16800/16750/16690/16620.

bank nifty bulls are in a strong position

Bank Nifty needs to hold the 35050-34900 zone for maintaining the upmove. On the upside, the 35600 is the resistance.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 35400 to move towards 35550/35750/36000.

On the lower side, the Gann support level is 35050; below that Bank Nifty Index can move towards 34900/34700/34450.

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.