The last analysis levels worked perfectly.
From a short-term perspective, both the Nifty and Bank Nifty Index are in a stable position. But on the higher side, we must stay cautious.
That’s because first, the Nifty 50 Index from 14273 Friday low is rising against a steep angle line on the hourly chart. We have seen the rise against a steep angle line that doesn’t sustain for too long.
Second, near 14720-735, Index will complete its square point, and most of the time, Square levels act as a crucial resistance.
Both the factors may act as a trigger for profit booking.
Nifty 50 Index Intraday Gann Levels
Nifty bulls need to break & sustain above 14690 to move towards 14750/14820 levels
On the lower side, the Gann support level is 14600 below that Index can move towards 14550/14490/14410 levels.
Bank Nifty Intraday Gann Levels
Bank Nifty bulls need to break & sustain above 32930 to move towards 33100/33400 levels.
On the lower side, the Gann support level is 32580 below that Bank Index can move towards 32400/32100/31700 levels.
Note: The above levels are for educational purposes only, not Buy/Sell advice.