Today after the gap-up opening, both indices consolidated the gains, then moved further upward and closed with half a percent gain.
The 16550-490 is a crucial support area for Nifty. And until the Index is above that, bulls are stronger. On the higher, today’s high 16610-650 zone will act as a resistance.
The 36050-35850 is a critical support zone for Bank Nifty and has maintained above that for further upside. And on the higher 36400 will act as the resistance.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 16660 to move towards 16700/16750/16810/16880.
On the lower side, the Gann support level is 16580; below that Index can move towards 16540/16490/16430/16360.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 36400 to move towards 36550/36750/37000.
On the lower side, the Gann support level is 36050; below that Bank Nifty Index can move towards 35900/35700/35450.
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.