Today both indices opened gap-up. But both failed to cross the Gann space resistance level (16460/34900) that I posted on Facebook, Twitter, and over this page. And then both started dropping, gave up all the gains, and closed flat in the red.
The 16140 is a crucial support level for the bulls. And if the Nifty breaks and sustains below that zone, then it can fall further. On the higher side, 16269 and 16347 are the resistance.
The 34100-34000 is an important support zone for the Bank Nifty bulls. And if it breaks and sustains below that zone, then it can decline more. And on the higher side, the 34450 & 34900 are the resistance.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 16240 to move towards 16290/16350/16420/16500.
On the lower side, the Gann support level is 16140; below that Index can move towards 16090/16030/15960/15880.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 34450 to move towards 34600/34800/35050.
On the lower side, the Gann support level is 34100; below that Bank Nifty Index can move towards 33950/33750/33500.
Note: The above levels are for educational purposes only, not Buy/Sell advice.
