Today both indices opened down, took the support from the Gann square level, and moved higher. Then on the higher, both faced resistance from the levels (15850/33600), which we discussed in yesterday’s analysis. And finally, both closed the day in the red.
The bears have the upper hand until the Nifty is below the 15840-850 zone. And, on the downside, the 15600 is the support.
The Bank Nifty has to break and sustain above the 33800 level for a bounce back. And on the downside, the 33250-33000 zone is the support.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 15770 to move towards 15810/15860/15920/15990.
On the lower side, the Gann support level is 15670; below that Index can move towards 15630/15580/15520/15450.
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 33150; below that Bank Nifty Index can move towards 33000/32800/32550.
Note: The above levels are for educational purposes. Not a Buy/Sell advice.