Nifty Bank Nifty Loose Early Gains, End the Day on a Negative Note

Today Nifty & Bank Nifty opened with a gap near the resistance levels discussed in the weekly analysis (17640/37600). But within a few minutes, both Indices gave up all the opening gains, fell over 1.50% from the day high, and ended in the red.

For tomorrow’s session. Nifty bulls need to break & hold above the 17430-450 zone to rally further. On the downside, 17350 & 17250 are the supports.

Until Bank Nifty holds the 36900-700 zone, bulls have the upper hand. On the upside, the 37100 & 37400 are the resistance levels.

Nifty opened with a gap

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 17430 to move towards 17470/17520/17580/17650.

On the lower side, the Gann support level is 17350; below that Index can move towards 17310/17260/17200/17130.

Bank Nifty opened with a gap

Bank Nifty Intraday Levels

Bank Nifty bulls need to break & sustain above 37100 to move towards 37250/37450/37700.

On the lower side, the Gann support level is 36800; below that Bank Nifty Index can move towards 36650/36450/36200.

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.