Last week, both the indices ended in red. Nifty closed 400 & Bank Nifty 2000 points lower on the close-to-close basis.
Next week, the 16100-16500 zone will play an important role for Nifty bulls. Either side breakout will give further hints about the trend.
In the same way, the 34200-34900 zone will decide the Bank Nifty trend in the coming week.
Nifty Weekly Gann levels
Next week, 07 & 09 March, are the Gann dates for the Nifty 50 Index.
Resistance: 16300. Above that, the Nifty 50 Weekly trend can change, and it can start moving towards 16410/16530/16660/16800 levels.
Support: 16100. Below that, the Nifty 50 can start moving lower towards 15990/15870/15740/15600levels.
Bank Nifty Weekly Gann levels
Next week, 08 & 09 March, are the Bank Nifty Gann dates.
Resistance: 34800. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 35000/35300/35700/36200 levels.
Support: 34200. Below that, Bank Nifty can start moving lower towards 34000/33700/33300/32800 levels.
Note: The above levels are only for study. Not a Buy/Sell advice.