support area for Bank Nifty


Today after the gap-up opening, both indices faced resistance at a Gann square level. And from there, both gave up some gains but closed in the green.

The 16490-440 is a crucial support area for Nifty. And until the Index is above that, bulls are stronger. On the higher, today’s high 16580-600 zone will act as a resistance.

The 35700-500 is a critical support zone for Bank Nifty and has maintained above that for further upside. And on the higher 36050 & 36400 will act as the resistance. 

Nifty Intraday Gann levels

Nifty bulls need to break & sustain above 16510 to move towards 16550/16600/16660/16730.

On the lower side, the Gann support level is 16440; below that Index can move towards 16400/16350/16290/16220.

support area for Bank Nifty

Bank Nifty Intraday Gann levels

Bank Nifty bulls need to break & sustain above 36050 to move towards 36200/36400/36650.

On the lower side, the Gann support level is 35700; below that Bank Nifty Index can move towards 35550/35350/35100.

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.

By Divesh