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Nifty Bank Nifty Analysis & Levels for 18th October

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Today after a flat opening, both indices moved downwards. But soon, both jumped upwards, and then for the rest of the session, both continued to move higher.

Nifty has closed slightly on the positive side. But still, on the higher side, it may face strong resistance in the 17370-390 zone & above that, 17500-530 is the next strong resistance area. And on the lower side, the 17230-220 zone will act as support.

For Bank Nifty, the 40190-40300 range is crucial. And on the lower side, the 38700-800 zone will act as a resistance.  

face strong resistance nifty

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17320 to move towards 17360/17410/17460/17530.

On the lower side, the Gann support level is 17220; below that Index can move towards 17180/17130/17070/17000.

face strong resistance bank nifty

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 40050 to move towards 40200/40400/40650.

On the lower side, the Gann support level is 39700; below that Bank Nifty Index can move towards 39550/39350/39100.

Note: The above levels are for educational purposes. Not Buy/Sell advice.

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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.