crucial range for Nifty

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Today both indices opened 2% down. But both didn’t sustain at the lower levels and bounced from the day low. But even after that, both closed in the red.

The bears have the upper hand until the Nifty is trading below the 17460-490 zone. And on the lower side, a sustainable move below the 17240 zone will add more pressure towards the downside. 

The 38400-38050 is a crucial range for Bank Nifty. And either side’s breakout withholding will decide the trend of tomorrow’s session.

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 17340 to move towards 17380/17430/17490/17560.

On the lower side, the Gann support level is 17240; below that Index can move towards 17200/17150/17090/17020.

crucial range for Bank Nifty

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 38400 to move towards 38550/38750/39000.

On the lower side, the Gann support level is 38050; below that Bank Nifty Index can move towards 37900/37700/37450.

Note: The above levels are for educational purposes. Not Buy/Sell advice.

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Image and article originally from www.diveshtechanalysis.com. Read the original article here.

By Divesh