Trade Set-Up for 18 August Weekly Expiry

Today both indices opened flat. Then both indices inched higher as the day advanced and closed with half a percent gain.

The bulls have the upper hand until the Nifty is trading above the 17850-830 zone. And on the higher side, the 18040-50 zone can act as strong resistance

For Bank Nifty Index, the 39500 weekly resistance level is crucial, and above that Index can quickly move towards 40,000/40200 levels. And on the lower side, 39100 & 38900 are the supports for tomorrow.

nifty indices inched higher

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17990 to move towards 18020/18060/18110/18170.

On the lower side, the Gann support level is 17910; below that Index can move towards 17880/17840/17790/17730.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 39500 to move towards 39650/39850/40100.

On the lower side, the Gann support level is 39200; below that Bank Nifty Index can move towards 39050/38850/38600.

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.