Nifty Bank Nifty Analysis Ahead of five States Election Result 

Today both the indices opened gap-up and continued to rally for the whole session. As a result, both the indices closed in green with 2% gains.

nifty indices closed in green

Until Nifty is holding 16260-200 zone, bulls are safe. 

On the higher side, Nifty has many resistances between 16450-500 zone. In that case, bulls need a strong close above 16550 to continue the rally.

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16380 to move towards 16430/16490/16560/16640.

On the lower side, the support level is at 16280; below that Index can move towards 16230/16170/16100/16020.

bank nifty indices closed in green

Bank Nifty needs to hold 33500-300 zone for further upmove.

On the upside, the 33990-34120 zone is the resistance. If it manages to sustain above that, Bank Index can move towards 34700/35300 levels. 

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 33990 to move towards 34200/34500/34900

On the lower side, the Gann support level is 33600; below that Bank Nifty Index can move towards 33400/33100/32700.

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.