Even after a strong weekly close, Nifty & Bank Nifty opened gap down. Both tried to recover, made high near Gann levels, which we discussed in our analysis, and again went down.
The 15640-700 is a decisive support zone for Nifty bulls.
Holding below that will put more pressure on bulls, and Index can re-visit 15570/15450 levels. For reversal, bulls need the close above 15855 levels.
Bank Nifty 34900-850 zone is crucial. Below that, it can fall more. Reversal is possible on close above 35400-600 zone
Nifty Intraday Gann Levels
Nifty bulls need to break & sustain above 15790 to move towards 15820/15860/15910 levels.
On the lower side, the Gann support level is 15700; below that Index can move towards 15670/15630/15580.
Bank Nifty Intraday Gann Levels
Bank Nifty bulls need to break & sustain above 35250 to move towards 35400/35600/36850.
On the lower side, the Gann support level is 34900; below that Bank Nifty Index can move towards 34750/34550/34300. levels.
Note: The above levels are for educational purposes only, not Buy/Sell advice.