Today both the indices opened with a 2% gap. Then after consolidation, both again moved higher and made the high around 11:00 am. And from that high, Nifty fell 2% and Bank Nifty 3%. Still, both closed in the green.
Until Nifty is holding 16470-430 zone, bulls are safe. On the higher side, 16680 & 16850 will act as resistance.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 16640 to move towards 16670/16710/16760/16820.
On the lower side, the Gann support level is 16550; below that Index can move towards 16520/16480/16430/16370.
Bank Nifty needs to hold 34300-150 zone for further upmove.
On the upside, the 34990-35050 zone is the resistance. If it manages to sustain above that, Bank Index can move towards 35300/35800 levels.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 34600 to move towards 34750/34950/35200
On the lower side, the Gann support level is 34300; below that Bank Nifty Index can move towards 34150/33950/33700.
Note: The above levels are for educational purposes only, not Buy/Sell advice.