Nifty Bank Nifty Analysis for September Expiry

Today after the gap down opening, both indices recovered a bit. But then, around 12:00 pm, both indices faced resistance from the Gann square level and again moved lower.

The 16815-16800 zone will play a crucial role tomorrow in deciding the intraday trend. If Nifty sustains below that, then it can fall towards 16730/16610 levels. And on the higher side, the 16960-990 area is the resistance.

Bank Nifty can go down more if it breaks and sustains below the 37400-200 zone. On the higher side, 37900 & 38300 will act as resistance.

Nifty from the Gann square level

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16900 to move towards 16940/16990/17050/17120.

On the lower side, the Gann support level is 16800; below that Index can move towards 16760/16710/16650/16580.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 37800 to move towards 37950/38150/38400.

On the lower side, the Gann support level is 37400; below that Bank Nifty Index can move towards 37250/37050/36800.

Note: The above levels are for educational purposes. 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.