Nifty Bank Nifty Analysis for Weekly Expiry

Today both the indices opened gap-up precisely at the Gann square resistance level. Then, both the indices started moving downwards and ended the session in red. 

nifty bulls need to protect

Bears have the upper hand until Nifty trades below 17290-350 zone. 

And bulls need to protect the 17220-190 zone for a comeback. If bulls fail to do so, Nifty can again move towards 17100/16940 levels. 

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17300 to move towards 17340/17390/17450/17520.

On the lower side, the Gann support level is 17190; below that Index can move towards 17150/17100/17040/16970.

bank nifty bulls need to protect

Below 36250-350 zone Bank Nifty bears are in a strong position. 

And bulls need to protect the 36100-50 zone for recovery. And if bulls fail to do so, the Bank Index can move down towards 35800/35400 levels.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 36350 to move towards 36500/36700/36950.

On the lower side, the Gann support level is 36050; below that Bank Nifty Index can move towards 35900/35700/35450.

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.