Last week, both indices ended the week on a positive note. Nifty closed 468 points higher, and Bank Nifty 1584 points higher on a close-to-close basis.
Next week, the 16280-300 zone will play an important role in deciding the Nifty Index trend. And on the downside, a sustainable move below the 16030-15980 zone will strengthen the bears.
For Bank Nifty, the 35150-300 zone will be crucial. And on the downside, a move below the 34700-600 zone will strengthen the bears.
Nifty Weekly Gann levels
Next week, 11 & 13 July, are the Gann dates for the Nifty 50 Index.
Resistance: 16300. Above that, Index can trade higher and move towards 16380/16470/16570/16700 levels.
Support: 16150. Below that, the Nifty 50 can move lower towards 16070/15980/15880/15750 levels.
Bank Nifty Weekly Gann levels
Next week, 13 & 15 July, are the Bank Nifty Gann dates.
Resistance: 35300. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 35500/35800/36200/36700 levels.
Support: 34700. Below that level, Bank Nifty can move lower towards 34500/34200/33800/33300 levels.
Note: The above levels are only for study. Not Buy/Sell advice.