Nifty Bank Nifty Analysis ahead of July Expiry & US Fed Outcome

Today after a flat opening, both indices did low near the support levels 16440/36300 that we discussed in yesterday’s post. And from there, both indices jumped higher and closed with a nearly one percent gain.

Now Nifty bulls need to hold the 16590-540 zone for further rally. And on the upside, the 16690-730 zone will be crucial for bulls in tomorrow’s session. 

The Bank Nifty is back near the 36950-37050 resistance zone, which can act as a crucial hurdle for the Bank Index bulls. And on the lower side, 36600 will act as support for tomorrow’s trading session. 

nifty indices did low near the support levels

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16730 to move towards 16770/16820/16880/16950.

On the lower side, the Gann support level is 16630; below that Index can move towards 16590/16540/16480/16410.

Nifty Bank indices did low near the support levels

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 36950 to move towards 37100/37300/37550.

On the lower side, the Gann support level is 36600; below that Bank Nifty Index can move towards 36450/36250/36000.

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.