Last week, the Nifty closed 232 points higher, while the Bank Nifty closed 105 points lower.
Next week’s Nifty trend will depend on the 19595-630 range zone. Bears will have an advantage if they break and remain below the 19440 Gann price level.
For Bank Nifty, the 44950-45200 range is crucial. Any sustained rise above the 45200 level will strengthen the Bulls. On the downside, 44400 is a critical support level.
Weekly Gann Levels for the Nifty
The 17th & 19th of July are critical Gann dates for Nifty.
A break and hold above the 19630 resistance level could take the Nifty 50 Index higher toward 19730/19850/19960/20100.
Gann support at the lower end is 19440. If the Index holds below that, it may decline toward 19350/19220/19100/18950.
Weekly Gann Levels for Bank Nifty
The 17th & 19th of July are critical Gann dates for the Nifty Bank Index.
A break and hold above the 45200 resistance level could lift the Bank Nifty Index towards the 45400/45700/46100/46600 levels.
Bank Nifty Gann support at the lower end is at 44400. If the Bank Nifty breaks and holds below that level, it could decline toward the 44200/43900/43500/43000 levels.
Note: The above levels are for educational purposes. Not Buy/Sell advice.