Today both indices opened gap-up. Then both faced resistance from the Gann square level and gave up all the opening gains.
Until the Nifty is holding the 16450 (on a closing basis), the bulls are in a strong position and can take the index towards 16950 levels. On the higher side, 16600 & 16700 are the resistances.
The Bank Nifty range is 35700-35200. Either side break withholding will decide the trend of tomorrow’s expiry.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 16600 to move towards 16640/16690/16750/16820.
On the lower side, the Gann support level is 16500; below that Index can move towards 16460/16410/15350/15280.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 35800 to move towards 35950/36150/36400.
On the lower side, the Gann support level is 35450; below that Bank Nifty Index can move towards 35300/35100/34850.
Note: The above levels are for educational purposes only, not Buy/Sell advice.
