Today after the gap-down opening, both indices quickly recovered back. And After consolidation, both closed in the green on a positive note.
The bulls are in control and need to hold the 16300-270 zone for further upside. And on the higher side, 16390 will act as the resistance.
The 35700-850 zone is an important resistance zone for Bank Nifty, and for further upside, it has to break & hold above that. And on the lower side, 35500 will act as the support.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 16390 to move towards 16530/16580/16640/16710.
On the lower side, the Gann support level is 16300; below that Index can move towards 16260/16210/16150/16080.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 35850 to move towards 36000/36200/36450.
On the lower side, the Gann support level is 35500; below that Bank Nifty Index can move towards 35350/35150/34900.
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.