Today soon after the opening, both indices moved downwards. Then around 10:30 am, both indices took support from the Gann square level and jumped higher. But around 01:30 pm, both again moved down and closed in the red.
Now 16560-600 zone will act as a crucial hurdle for bulls. And so bears are stronger until the Index is below that zone. And on the downside, 16440 & 16340 will act as support.
Below the 36600-400 zone, Bank Nifty is weaker, and it can slide towards 36050/35700 levels. On the lower side, 36300 will be crucial support for tomorrow’s trading session.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 16540 to move towards 16580/16630/16690/16760.
On the lower side, the Gann support level is 16440; below that Index can move towards 16400/16350/16290/163220.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 36600 to move towards 36750/36950/37200.
On the lower side, the Gann support level is 36300; below that Bank Nifty Index can move towards 36150/35950/35700.
Note: The above levels are for educational purposes. Not Buy/Sell advice.
Image and article originally from www.diveshtechanalysis.com. Read the original article here.