Today both indices opened with a gap down. Then both moved, recovered, and then again fell back, and both ended the session in the red.
Bear is in control until the Nifty is trading below the 17750-800 zone. And to regain the momentum back, bulls have to break and sustain above the 17800 level.
Until Bank Index is trading below the 37750-37800 zone, bears have the upper hand. And on the downside, if Bank Index breaks & sustains below the 37400, it can fall further.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 17740 to move towards 17780/17830/17890/17960.
On the lower side, the Gann support level is 17650; below that Index can move towards 17610/17560/17500/17430.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 37750 to move towards 37900/38100/38350.
On the lower side, the Gann support level is 37400; below that Bank Nifty Index can move towards 37250/37050/36800.
Note: The above levels are for educational purposes only, not Buy/Sell advice.