Trade Plan for 02 Aug: Indices Continued with their Winning Streak from the Last week

Today both indices opened with positive momentum. Then after consolidation, both moved further upwards and closed with a gain of one percent.

The major support for Nifty is at 17150-111 zone, and minor support is at 17271-229 zone. On the higher side, the 17397-440 zone can be a strong hurdle for the bulls. 

And for Bank Nifty, the major support is at the 37300-400 zone. And on the upside, 38050-38300 can act as strong resistance in tomorrow’s trading session. 

nifty indices opened with positive momentum

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17360 to move towards 17390/17440/17500/17580.

On the lower side, the Gann support level is 17270; below that Index can move towards 17240/17190/17130/17050.

Nifty Bank indices opened with positive momentum

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 38050 to move towards 38300/38600/39000.

On the lower side, the Gann support level is 37700; below that Bank Nifty Index can move towards 37400/37050/36600.

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.