Last week Nifty ended the week on a negative tone, and Bank Nifty closed in green.
The price action of both the Index on a bigger time frame ( weekly & monthly chart) suggests bulls are losing their grip.
To overcome this weakness, Bank Nifty Index needs a weekly close above 35600. Last week it went above 35600 but didn’t give a weekly above it.
Nifty is struggling to make a close above 15880 levels. Many times it moved above 15880, but it never closes above it. A close above it will give a hint about the trend.
Nifty Weekly Gann Levels
Next week, 12 & 15 July, are the Nifty Gann reversal dates.
Resistance is at 15810 levels. Above that, Index can move towards 15860/15920/15990.
Support is at 15680 levels; below that Nifty 50 Index can move towards 15630/15570/15490.
Bank Nifty Weekly Gann Levels
Next week, 12 & 15 July, are the Bank Nifty Gann reversal dates.
Resistant is at 35200 levels; above that Bank Nifty Index can move towards 35400/35700/36100.
Support is at 34800 levels; below that, Nifty Bank can move towards 34600/34300/33900.
Note: The above levels are only for study. Not a Buy/Sell advice.