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Nifty Bank Nifty Gann Analysis for 20 May

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Today both indices opened with a huge gap down. Then both started trading sideways, and after that, both moved lower and closed over 2% down.

The 15900-930 is a crucial resistance zone for the bulls. And if the Nifty breaks and sustain above that zone, then only bulls will have a chance; until then, bears have the upper hand.

The 33450-600 is an important resistance zone for the Bank Nifty bulls. And if it breaks and sustains above that zone, then only bulls have a chance. And on the lower side, the 33100 & 32800 are the supports.

nifty resistance zone for the bulls

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 15870 to move towards 15910/15960/16020/16090.

On the lower side, the Gann support level is 15790; below that Index can move towards 15750/15700/15630/15560.

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 33450 to move towards 33600/33800/34050.

On the lower side, the Gann support level is 33100; below that Bank Nifty Index can move towards 32950/32750/32500.

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

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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.