Nifty Bank Nifty Bounced back from Lower levels But ended in the red

Today Nifty & Bank Nifty ends flat on a close-to-close basis. During intraday, indices moved on both sides. First, they opened the gap down, then both did low near the square level, then from there, both jumped 2%, and then came down and ended almost flat.

Let’s discuss the important levels that will help us trade in tomorrow’s session.

The 17150-140 is a critical support zone. If Nifty breaks & sustains below that zone, it can again fall towards 17070/16980 levels. And on the upside, 17290 is the resistance.

The 37400-300 zone will play an essential role in fixing the Bank Nifty Intraday trend. Below the 37400-300 zone, Bank Index can fall towards 37100/36600 levels.

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nifty low near the square level

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 17230 to move towards 17270/17320/17380/17450.

On the lower side, the Gann support level is 17140; below that Index can move towards 17100/17050/16990/16920.

bank nifty low near the square level

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.

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.