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Nifty Bank Nifty Weekly Analysis for 12-16 June

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On a weekly close-to-close basis last week, the Nifty closed 29 points higher, and the Bank Nifty closed just 51 points higher.

Next week, the Nifty weekly trend will be determined by the 18500 level. The Bulls will gain an advantage if they break and stay above 18700.

The 44500-550 range for Bank Nifty is crucial. Any sustained rise above the 44550 level will strengthen bullish sentiment. On the downside, 43700 is a significant support level.

Weekly Gann Levels for the Nifty

Next week, 15 & 16 June, are Crucial Gann dates for Nifty.

A break and hold above the 18700 resistance level could take the Nifty 50 Index higher toward the 18770/18860/18970/19100 levels.

Gann support at the lower end is at the 18500 level. If the Index holds below that, it may decline toward the 18430/18340/18230/18100 levels.

Critical Gann date for Bank Nifty

Weekly Gann Levels for Bank Nifty

Next week, 12 & 14 June, is a Critical Gann date for Bank Nifty.

A break and hold above the 44550 resistance level could lift the Bank Nifty Index towards the 44800/45100/45500/46100 levels.

Gann support at the lower end is at the 43700 level. If the Bank Nifty breaks and holds below that level, it could decline toward the 43500/43200/42800/42300 levels.

Note: The above levels are for educational purposes. Not Buy/Sell advice.

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About the Author

Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.