Last week, both Nifty & Bank Nifty ended the week in the red. Nifty closed 150 & Bank Nifty 300 points lower on a close to close basis.
Next week, the 17290 level will play a crucial role in deciding the Nifty weekly trend. On the upside, the 17450-550 zone is the resistance.
Until Bank Nifty is trading below 38800-900 zone bears, have the upper hand. On the downside, the 38200 is major support.
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Nifty Weekly Gann Levels
Next week, 14 & 15 February, are the Gann dates for the Nifty 50 Index.
Resistance: 17450. Above that, the Nifty 50 Weekly trend can change, and it can start moving towards 17510/17580/17660/17750 levels.
Support: 17290. Below that, the Nifty 50 can start moving lower towards 17230/17160/17080/16990 levels.
Bank Nifty Weekly Gann Levels
Next week, 14 & 15 February, are the Bank Nifty Gann dates.
Resistance: 38800. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 3900/39300/39700/40200 levels.
Support: 38200. Below that, Bank Nifty can start moving lower towards 38000/37700/37300/36800 levels.
Note: The above levels are only for study. Not a Buy/Sell advice.