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Nifty Bank Nifty Trade Setup for Wednesday

After the solid gap-up opening, Nifty and Bank Nifty fell over 1% from the day high. Both failed to cross the resistance levels (15900-920 & 35200), which we discussed in yesterday’s report.

Now, this week the Nifty range is 15700-15920. Either side breakout (with sustaining) will give the trending move.

The Bank Nifty range is 34700-35200 (which I mentioned in yesterday’s post), and it worked fine today.

nifty range

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 15790 to move towards 15830/15870/15920 levels.

On the lower side, the Gann support level is 15700; below that Index can move towards 15670/15630/15580.

bank nifty range

Bank Nifty Intraday Gann Levels

Bank Nifty bulls need to break & sustain above 34990 to move towards 35100/35250/35450.

On the lower side, the Gann support level is 34700; below that Bank Nifty Index can move towards 34600/34450/34250. levels.

Note: The above levels are for educational purposes only, not Buy/Sell advice.