Today both indices opened gap-down, and after that, both moved further downward. Then, around 11:00 am, both took the support from near Gann Square level and jumped up. But after 01:00 pm, bears dragged the indexes lower; hence, both indices closed over 1% in the red.
The 16927-900 zone will play a crucial role tomorrow in deciding the intraday trend. If Nifty sustains below that, then it can fall more. And on the higher side, the 17080-120 area is the resistance.
Bank Nifty can go down more if it breaks and sustains below the 38350-200 zone. On the higher side, 38900-39000 will act as resistance.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 17050 to move towards 17090/17140/17200/17270.
On the lower side, the Gann support level is 16960; below that Index can move towards 17920/17870/17810/17740.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 38850 to move towards 39000/39200/39450.
On the lower side, the Gann support level is 38500; below that Bank Nifty Index can move towards 38350/38150/37900.
Note: The above levels are for educational purposes. Not Buy/Sell advice.