Nifty Bank Nifty Gann Analysis 20th May

The last analysis levels worked fine.

Nifty bulls tried to cross 15140 resistance, but it failed. That’s the power of Gann Square levels. The Bank Index movement was flat today.

Last two trading sessions, Price action is against bulls as Gann Square Level is in place. So both Indices may see downside levels.

The Nifty 50 Index below 15080 can hit 14950/14850 levels. And below 33550-600 Bank Index will lose more strength and can reach 33300/32900 levels.

But, from a larger time period perspective, bulls are still in control. So downside can be limited.

Nifty 50 Index Gann Square Analysis

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 15080 to move towards 15120/15170/15250 levels.

On the lower side, the Gann support level is 14999 below that Index can move towards 14960/14910/14840 levels.

Bank Nifty Index Gann Square Analysis

Bank Nifty Intraday Gann Levels

Bank Nifty bulls need to break & sustain above 33900 to move towards 34050/34300/34700 levels.

On the lower side, the Gann support level is 33550 below that Bank Index can move towards 33300/32999/32500 levels.

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.