Today both the indices opened a nearly 1% down, then a pullback came near the levels (17300/36050) discussed in yesterday’s analysis. And then again, both the indices moved lower and ended the session in the red.
Bears have the upper hand until the Nifty trades below the 17290-320 zone. And bulls need to protect the 17220-190 zone for a comeback. If bulls fail to do so, the Nifty can again move towards 17100/16940/16800 levels.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 17300 to move towards 17340/17390/17450/17520.
On the lower side, the Gann support level is 17190; below that Index can move towards 17150/17100/17040/16970.
Below the 35650-35750 zone, Bank Nifty bears are in a strong position. And bulls need to protect the 35200 for recovery. And if bulls fail to do so, the Bank Index will fall more.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 35750 to move towards 35900/36100/36350.
On the lower side, the Gann support level is 35400; below that Bank Nifty Index can move towards 35250/35050/34800.
Note: The above levels are for educational purposes only, not Buy/Sell advice.