Nifty Bank Nifty Weekly Analysis for 26-30 September Week

Last week both indices closed lower on a weaker note. The Nifty closed 200 and Bank Nifty 1200 points down on a close-to-close basis.

Next week, the 17370-400 zone will play an important role in deciding the Nifty Index trend. And on the downside, a sustainable move below the 17100 will strengthen the bears more. 

For Bank Nifty, the 39400-300 zone will be crucial. A sustainable move below that zone can push Bank Index further lower. And the 39900-40000 zone will act as the resistance on the higher side. 

Nifty Index further lower

Nifty Weekly Gann levels

Next week, 26 & 29 September, are the Gann dates for the Nifty 50 Index.

Resistance: 17400. Above that, the Nifty can trade higher and reach 17480/17580/17700/17840 levels.

Support: 17190. Below that, the Nifty can move lower towards 17110/17010/16890/16750 levels.

Bank Nifty Index further lower

Bank Nifty Weekly Gann levels

Next week, 26 & 29 September, are the Bank Nifty Gann dates.

Resistance: 40000. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 40200/40500/40900/41400 levels.

Support: 39300. Below that level, Bank Nifty can move lower towards 39100/38800/38400/37900.

Note: The above levels are only for study. Not Buy/Sell advice.

About the author

Divesh Jotwani is a full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.