Nifty Bank Nifty Weekly Trading Levels 12-16 July

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.

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.