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.
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.