Nifty Bank Nifty Trading Plan for Wednesday

On Monday, indices opened a gap down, then ran up and closed in the green. Does this action mark the bulls showing up or just slipping short again?

The 16500 is a crucial level for Nifty, and the Friday & Monday close above 16500 shows the importance of the level. But, if Nifty breaks & sustains below 16500, it may fall towards 16250 & 15900. On the higher side, 16900 & 17300 are bulls hurdles for further upside.

On Monday, Bank Nifty closed a bit down, but it still managed to close above its support 35900-36100 zone. So, until the Bank Index holds 36100-35900, bulls are in control. On the lower side, 35500 is the support.

Subscribe & Get YOUR FREE COPY of the Nifty Cycle Dates Report!!

In ten minutes (or less), discover the important weeks & months for the entire year 2022, where markets can make a swing (high or low). Click here to subscribe and get it right away.

the nifty bulls showing up

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16820to move towards 16870/16930/17000/17080.

On the lower side, the Gann support level is 16700; below that Index can move towards 16650/16590/16520/16440.

the bank nifty bulls showing up

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 36400 to move towards 36600/36900/37300.

On the lower side, the Gann support level is 35900; below that Bank Nifty Index can move towards 35700/35400/35000.

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.