Trade Set-Up for 08 July: Indices Closed Nearly With 1% Gains for the Second consecutive session

7 July 2022

Today both indices opened gap-up. Then, for the whole session, both indices remained RangeBound till the end.

Now Nifty bulls need to hold the 16030-15990 zone to maintain a positive stance. And on the higher side, the 16170-210 zone will act as the resistance.

Bank Nifty needs to hold the 34700-500 zone to rally further. On the upside, 35200 is the resistance.

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16170 to move towards 16210/16260/16320/16390.

On the lower side, the Gann support level is 16070; below that Index can move towards 16030/15980/15920/15850.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 34950 to move towards 35100/35300/35550.

On the lower side, the Gann support level is 34600; below that Bank Nifty Index can move towards 34450/35250/34000.

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.

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