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After the gap-up opening, both indices gradually moved upward as the day advanced and ended the session with nearly one and a half percent.
The bulls in Nifty have to hold the 17220-200 zone to rally further. If bulls fail to hold that zone, then a pullback towards 16140/16070 can occur. And on the higher side, 16300 & 16390 will act as the resistance.
Bank Nifty bulls must maintain the 35250-200 zone to move towards 35600/35900 levels. And on the higher side, 35450 will act as the resistance.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 16300 to move towards 16340/16390/16450/16520.
On the lower side, the Gann support level is 16200; below that Index can move towards 16160/16110/16050/15980.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 35450 to move towards 35600/35800/36050.
On the lower side, the Gann support level is 35200; below that Bank Nifty Index can move towards 35050/34850/34600.
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.