After the gap-up opening, bears soon dragged both indices lower. Then around 11:00 am, both indices took support from the Gann square level and jumped higher. But after 01:00 pm, bears again pulled the indexes lower; hence, both indices closed in the red.
The 16937-900 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 17170-200 area is the resistance.
Bank Nifty can go down more if it breaks and sustains below the 38350-200 zone. On the higher side, 38550 & 39000 will act as resistance.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 17060 to move towards 17100/17150/17210/17280.
On the lower side, the Gann support level is 16960; below that Index can move towards 17910/17860/17800/17730.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 38550 to move towards 38700/38850/39100.
On the lower side, the Gann support level is 38200; below that Bank Nifty Index can move towards 38050/37850/37600.
Note: The above levels are for educational purposes. Not Buy/Sell advice.
