Today both indices opened gap-up at the Gann square resistance level and then dropped from there. As a result, the Nifty fell 330 and Bank Nifty nearly 1000 points. But later, around 11:45 am, both indices did low, got support from near the square level, and again jumped higher.
The 17240-190 zone will play a crucial role for the Nifty bulls. And below that, the major support is at the 17150-111 zone. On the higher side, the 17440-450 zone can act as a strong hurdle for the bulls.
Today, Bank Nifty faced resistance from the 38200-300 zone and fell 1000 points. Still, the 38200-300 is a crucial resistance zone for Bank Index. And on the downside, the major support is at the 37400-200 zone.
Nifty Intraday Gann levels
Nifty bulls need to break & sustain above 17430 to move towards 17470/17520/17580/17650.
On the lower side, the Gann support level is 17330; below that Index can move towards 17290/17240/17180/17110.
Bank Nifty Intraday Gann levels
Bank Nifty bulls need to break & sustain above 37950 to move towards 38100/38300/38550.
On the lower side, the Gann support level is 37600; below that Bank Nifty Index can move towards 37450/37250/37000.
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.