Last week both indices ended the week on a positive note. Nifty closed 86 points & Bank Nifty closed 1336 points higher on a close-to-close basis.
Next week, the 16460-500 zone will play an important role in deciding the Nifty Index weekly trend. A close above 16500 will expand the chances of more upside. And on the downside, keep an eye on the 16300, a sustainable move below that level will again strengthen the bears.
The 35850-950 zone will play a crucial role for Bank Nifty bulls. A close above 35950 will boost the chances of more upside. And on the downside, a sustainable move below the 35350-300 zone will again strengthen the bears.
Nifty Weekly Gann levels
Next week, 30th May & 01st June, are the Gann dates for the Nifty 50 Index.
Resistance: 16500. Above that, the Nifty 50 can trade higher and move towards 16580/16670/16770/16900 levels.
Support: 16300. Below that, the Nifty 50 can move lower towards 16220/16130/16030/15900 levels.
Bank Nifty Weekly Gann levels
Next week, 30th May & 01st June, are the Bank Nifty Gann dates.
Resistance: 35950. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 36150/36450/36850/37350 levels.
Support: 35350. Below that, Bank Nifty can start moving lower towards 35150/34850/34450/33950 levels.
Note: The above levels are only for study. Not Buy/Sell advice.
