Nifty Bank Nifty Trading Plan for 04 August Weekly Expiry

Today both indices opened flat, then soon both moved lower. But around 11:30 am, both indices got support from the lower levels, and the trend got reversed. Then Nifty jumped 175 & Bank Nifty 350 points higher and closed in the green.

The major support for Nifty is the same at the 17150-111 zone. But minor support has now shifted higher at the 17330-270 zone. On the higher side, the 17440-450 zone can act as a strong hurdle for the bulls. 

And for Bank Nifty, the major support is at the 37700-600 zone. And on the upside, 38200-38300 can act as strong resistance in tomorrow’s trading session. 

nifty indices got support from the lower levels

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17450 to move towards 17500/17560/17630/17710.

On the lower side, the Gann support level is 17350; below that Index can move towards 17300/17240/17170/17090.

bank nifty indices got support from the lower levels

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 38200 to move towards 38350/38550/38800.

On the lower side, the Gann support level is 37850; below that Bank Nifty Index can move towards 37700/37500/37250.

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.