Weekly Expiry Analysis: A Big-Bang move is Around the Corner?

Today both indices opened a gap-up. But soon, both gave up the gains and started to move lower. Then, around 01:00 pm, both indices took support from the Gann’s square level and jumped higher.

Nifty bulls have to hold the 16090-80 zone to bounce further. On the upside, the 16200-210 zone is the resistance.

Bank Nifty bulls have to break and hold above the 34550-700 zone (on a closing basis) to bounce towards 35200/35500 levels. On the downside, the 34400-500 zone is the support. 

nifty support from the Gann's square level

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16210 to move towards 16250/16300/16360/16430.

On the lower side, the Gann support level is 16120; below that Index can move towards 16080/16030/15970/15900.

support from the Gann's square level bank nifty

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 34870 to move towards 35020/35220/35470.

On the lower side, the Gann support level is 34550; below that Bank Nifty Index can move towards 34400/34200/33950.

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.