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Nifty Bank Nifty Down Move Ahead? Trade Set up for Wednesday

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Today, Nifty and Bank Nifty first traded on the upside and made high near Gann resistance levels. From there both fell nearly 1%.

Nifty and Bank Nifty broke their previous highs, but the Price action is still weak and is not in favor of bulls. And as per Gann’s time theory, both are trading near an important timing point. So, we may again see a pullback.

The nifty range is 16350-16180, and Bank Nifty 36300-35850. Either side breakout (with sustaining) can give a trending move.

Nifty Intraday Gann Levels

Nifty bulls need to break & sustain above 16320 to move towards 16350/16390/16440 levels.

On the lower side, the Gann support level is 16250; below that Index can move towards 16220/16180/16130.

Bank Nifty Intraday Gann Levels

Bank Nifty bulls need to break & sustain above 36200 to move towards 36350/36450/36700.

On the lower side, the Gann support level is 35900; below that Bank Nifty Index can move towards 35750/35550/35300 levels.

Note: The above levels are for educational purposes only, not Buy/Sell advice.

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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.