Nifty Bank Nifty Trade setup for April 06

Today both indices opened gap-up near the resistance (18100/38800), which we discussed in yesterday’s analysis. And both failed to cross the resistance, moved lower, and ended the session in the red.

To regain momentum, nifty Bulls have to move and sustain above the 18040 level. And if bulls fail to do so, then Index can see a pullback towards 17800 levels.

Until Bank Index is trading below 38250, bears have the upper hand. And they can take the index towards 37400/36600 levels. 

nifty failed to cross the resistance

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 18040 to move towards 18080/18130/18190/18260.

On the lower side, the Gann support level is 17950; below that Index can move towards 17910/17860/17800/17730.

bank nifty failed to cross the resistance

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 38250 to move towards 38400/38600/38850.

On the lower side, the Gann support level is 37900; below that Bank Nifty Index can move towards 37750/37550/37300.

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.