Last week, Nifty and Bank Nifty both closed lower on a week-to-week basis, with Nifty down by 107 points and Bank Nifty down by over 650 points.
In the coming week, the market may become bullish if Nifty breaks and maintains above the Gann level of 21510. However, the bears may take control if Nifty breaks and stays below 21230, which is a critical Gann price level.
Bank Nifty Bulls will gain strength if they break above the 47900-48100 zone and hold it. On the downside, the 47300-200 zone is a crucial support area.
Weekly Gann Levels for the Nifty
According to the Gann analysis, the 27th/28th of December are critical dates for Nifty.
A break and hold above the 21510 Gann resistance level could take the Nifty 50 Index higher toward the 21600/21710/21900 levels.
Based on the Gann Analysis, the lower support is at 21230. If the Nifty breaks and remains below that level, it could decline towards the 21120/20990/20800 levels.
Members-Only Reports
A Weekly and Monthly Report that provides you with detailed Time-Specific Turning Points for Nifty, Bank Nifty, Crude Oil (MCX), Gold (MCX), USDINR, and volatile stocks like Reliance.
Yes, I Want More Information
Weekly Gann Levels for Bank Nifty
As per the Gann analysis, the 27th/28th December are critical dates for the Bank Nifty Index.
A break and hold above the 48100 resistance level could lift the Bank Nifty Index towards the 48400/48800/49300/49900 levels.
The Gann support level for Bank Nifty is at 47300. If the Bank Index breaks and remains below that level, it could decline towards 47000/46600/46100/45500
Note: The above levels are for educational purposes. Not Buy/Sell advice.
