Today, both indices opened with a gap down. Then Bank Nifty recovered and closed in the green. But Nifty closed over 1% down.
Bears are strong until the Nifty is trading below the 17125-135 zone. On the lower side, 16890-880 is a crucial support zone, and if bulls manage to hold that, then a bounce-back can be seen towards 17090/17150 levels.
Bank Nifty bulls need to hold the 35900-700 zone for a further upside. On the higher side, the 36300-400 zone is the resistance.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 16970 to move towards 17010/17060/17120/17190.
On the lower side, the Gann support level is 16880; below that Index can move towards 16840/16790/16730/17660.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 36200 to move towards 36350/36550/36800.
On the lower side, the Gann support level is 35800; below that Bank Nifty Index can move towards 35650/35450/35200.
Note: The above levels are for educational purposes only, not Buy/Sell advice.