Nifty Bank Nifty Analysis for 08 September Expiry

Today both indices opened down, but within a few minutes, both rebounded back, and then for the session, both indices traded in a rangebound mode.

Tomorrow in Nifty, the 17580-550 zone will play an important role. 

A sustainable move below that zone can take the index towards 17460/17330 levels. And on the higher side, the 17680-700 area will act as resistance. 

And in Bank Nifty tomorrow, the 39550-650 zone is crucial.

If Bank Index breaks and holds above that zone, then it can move towards 39800/40100 levels. And on the lower side, the 39200 & 38800 will act as support

nifty indices traded in a rangebound

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17690 to move towards 17730/17780/17840/17910.

On the lower side, the Gann support level is 17590; below that Index can move towards 17550/17500/17440/17370.

bank nifty indices traded in a rangebound

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 39650 to move towards 39800/40000/40250.

On the lower side, the Gann support level is 39400; below that Bank Nifty Index can move towards 39250/39050/38800.

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.