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, the Nifty closed by 1.45% & Bank Nifty was 2.22% higher.
Until the Nifty holds 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 needs to hold the 35050-34900 zone to maintain 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.