Last week, the Nifty gained 700 points, while Bank Nifty rose by over 2440 points.
In the coming week, the bulls could become more stronger if Nifty breaks and holds above the 21055 Gann level. However, the bears could gain an advantage if Nifty breaks and sustains below 20850, which is a crucial Gann price point.
If Bank Nifty breaks above the 47350 level and holds, then that will strengthen the Bulls more. On the downside, the 46600-500 zone is a crucial support area.
Weekly Gann Levels for the Nifty
According to the Gann analysis, the 11th and 15th of December are critical dates for Nifty.
A break and hold above the 21055 Gann resistance level could take the Nifty 50 Index higher toward the 21120/21210/21340/21500 levels.
Based on the Gann Analysis, the lower support is at 20850. If the Nifty breaks and remains below that level, it could decline towards the 20760/20640/20500 levels.
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Weekly Gann Levels for Bank Nifty
The 12th of December is a critical date for the Bank Nifty Index as per the Gann analysis.
A break and hold above the 47350 resistance level could lift the Bank Nifty Index towards the 47550/47850/48250/48750 levels.
The Gann support level for Bank Nifty is at 46600. If the Bank Index breaks and remains below that level, it could decline towards 46400/46100/45700/45200.
Note: The above levels are for educational purposes. Not Buy/Sell advice.