Nifty and Bank Nifty today traded as per the levels which we discussed in yesterday’s report.
Both Nifty and Bank Nifty have made the high, near crucial Gann levels, working as the resistance. And as per Gann time theory, tomorrow (06 August) and Monday (09 August) are important dates. So, we may see a pullback in the present uptrend
Below the 16230-210 zone, Nifty can see some pullback. On the higher side, the 16335-355 zone is the resistance.
Bank Nifty below 35700-600 zone can fall more 500-600 points. On the higher side, the 36250-300 zone is the resistance.
Nifty Intraday Gann Levels
Nifty bulls need to break & sustain above 16310 to move towards 16350/16400/16460 levels.
On the lower side, the Gann support level is 16250; below that Index can move towards 16210/16160/16070.
Bank Nifty Intraday Gann Levels
Bank Nifty bulls need to break & sustain above 36010 to move towards 36150/36350/36600.
On the lower side, the Gann support level is 35700; below that Bank Nifty Index can move towards 35550/35350/35050 levels.
Note: The above levels are for educational purposes only, not Buy/Sell advice.