Today both indices opened gap-up. But soon, both fell 1%, and then near 10:00 am, both jumped 1%. And then, around 11:00 am, both again fell and closed in the red.
The bears have the upper hand until the Nifty is below the 16510-550 zone. Then, on the downside, the 16300-260 zone is the support.
Today, the Bank Nifty again managed to hold the 34900 level on a closing basis. But it failed to hold above the 35350 level. So, for tomorrow’s trading session, the Bank Nifty range will be 34900-35350. Either side’s breakout withholding will decide the trend.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 16430 to move towards 16480/16540/16610/16690.
On the lower side, the Gann support level is 16330; below that Index can move towards 16280/16220/16150/16070.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 35150 to move towards 35300/35500/35750.
On the lower side, the Gann support level is 34800; below that Bank Nifty Index can move towards 34650/34450/34200.
Note: The above levels are for educational purposes only, not Buy/Sell advice.
