Today Nifty and Bank Nifty opened with a gap-up and continued to move higher. Then around 10:30 am. Both arrived at the Gann Square level precisely at the top (high) of the day, where both faced the resistance, gave up all the gains, and ended in the red.
Below 17100 bulls in Nifty are in the danger zone.
Tomorrow if Nifty breaks and sustains below the 16930 levels. Then, it can slip back towards Monday low (16782). On the upside, 16990 & 17060 will act as the resistance.
Bank Nifty close below 36000 is negative for the bulls.
In tomorrow’s session, keep an eye on the 35950-35500 zone. Whichever side Bank Nifty breaks and sustains, on that side, it can give a trending move. On the upside, 35950 & 36400 are the resistance.
Nifty Intraday Gann Levels
Nifty bulls need to break & sustain above 16990 to move towards 17020/17060/17110/17170.
On the lower side, the Gann support level is 16930; below that Index can move towards 16900/16860/16810/16750.
Bank Nifty Intraday 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 35500; below that Bank Nifty Index can move towards 35350/35150/34900.
Note: The above levels are for educational purposes only, not Buy/Sell advice.
