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Trade Set-Up for 20 July: Bulls continued Positive momentum Third day in a row

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Today after the gap-down opening, both indices quickly recovered back. And After consolidation, both closed in the green on a positive note.

The bulls are in control and need to hold the 16300-270 zone for further upside. And on the higher side, 16390 will act as the resistance. 

The 35700-850 zone is an important resistance zone for Bank Nifty, and for further upside, it has to break & hold above that. And on the lower side, 35500 will act as the support. 

nifty indices quickly recovered back

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16390 to move towards 16530/16580/16640/16710.

On the lower side, the Gann support level is 16300; below that Index can move towards 16260/16210/16150/16080.

Nifty Bank indices quickly recovered back

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 35850 to move towards 36000/36200/36450.

On the lower side, the Gann support level is 35500; below that Bank Nifty Index can move towards 35350/35150/34900.

Note: The above levels are for educational purposes. Not Buy/Sell advice.

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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.