On a weekly close-to-close basis last week, the Nifty closed 239 points higher, and the Bank Nifty closed 432 points higher.
Next week, the 17850 level will play a critical role in deciding the weekly trend of the Nifty. The bears will gain an advantage if they move and manage to stay below the 17400 level.
Bank Nifty’s 41850 level is decisive; any sustained rise above that level will be good for Bank Nifty’s bulls. On the downside, the 40900 level will act as support.
Weekly Gann Levels for the Nifty
Next week, 10th April is an Important Gann date for Nifty.
A break and hold above the 17770 resistance level could take the Nifty 50 Index higher towards the 17850/17950/18070/18200 levels.
Lower-end Gann support is at the 17550 level. If the Index holds below that, then it may move toward the 17470/17370/17250/17120 levels.
Weekly Gann Levels for Bank Nifty
Next week, 10th April, is an Important Gann date for Bank Nifty.
A break and hold above the 41400 resistance level could lift the Bank Nifty Index towards the 41600/41900/42300/42800 levels.
Lower-end Gann support is at 40900. If the Bank Nifty breaks and holds below that level, then it could move toward the 40700/40400/40000/39500 levels.
Note: The above levels are for educational purposes. Not Buy/Sell advice.