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 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.
