The expectation for a downside move didn’t work out, which we discussed in yesterday’s report.
Nifty and Bank Nifty ends in green. But their Price action is weak and not convincing. Thus, soon we may see the pause in this uptrend, as 03 Sep is the important date as per Gann theory.
Now, to keep this bullish momentum, Bank Nifty needs to hold the 36700-36600 zone. On the higher side, 36990 is the resistance level.
For further upside, Nifty bulls need to hold the 17215-17190 zone. On the higher side, 17315-17330 is the resistance zone.
Nifty Intraday Gann Levels
Nifty bulls need to break & sustain above 17270 to move towards 17300/17340/17390 levels.
On the lower side, the Gann support level is 17200; below that Index can move towards 17170/17130/17080.
Bank Nifty Intraday Gann Levels
Bank Nifty bulls need to break & sustain above 36750 to move towards 36900/37100/37350.
On the lower side, the Gann support level is 36400; below that Bank Nifty Index can move towards 36250/36050/35800 levels.
Note: The above levels are for educational purposes only, not Buy/Sell advice.
