Nifty and Bank Nifty both made high near Gann levels and have corrected a bit till now. Both traded as per the levels which we discussed in the last analysis.
Nifty and Bank Nifty Price action suggests a big move is around the corner. It can be on either side.
Above the 16210-16180 zone, Nifty bulls can again move back towards 16300/16350/16320 levels.
Bank Nifty today’s low is at an important Gann support level. If Bank Index holds that, it can move back towards 36250/36500 levels.
Nifty Intraday Gann Levels
Nifty bulls need to break & sustain above 16300 to move towards 16340/16390/16450 levels.
On the lower side, the Gann support level is 16220; below that Index can move towards 16180/16130/16070.
Bank Nifty Intraday Gann Levels
Bank Nifty bulls need to break & sustain above 36200 to move towards 36350/36450/36700.
On the lower side, the Gann support level is 35900; below that Bank Nifty Index can move towards 35750/35550/35300 levels.
Note: The above levels are for educational purposes only, not Buy/Sell advice.