Last week, the Nifty closed 160 points lower on a weekly basis, while the Bank Nifty closed only 315 points lower.
Next week, the Nifty weekly trend will be determined by the 18550 level. The Bulls will gain an advantage if they break and stay above the 18830 Gann price level.
The 43300-100 range for Bank Nifty is crucial. Any sustained fall below the 43100 level will strengthen bearishness. On the upside, 44100 is a significant resistance level.
Weekly Gann Levels for the Nifty
The 27th of June is a critical Gann date for Nifty.
A break and hold above the 18830 resistance level could take the Nifty 50 Index higher toward the 18900/18990/19100.
Gann support at the lower end is at the 18640 level. If the Index holds below that, it may decline toward the 18550/18420/18300.
Weekly Gann Levels for Bank Nifty
The 27th of June is a critical Gann date for Nifty Bank Index.
A break and hold above the 44200 resistance level could lift the Bank Nifty Index towards the 44500/44900/45400/46000 levels.
Gann support at the lower end is at the 43500 level. If the Bank Nifty breaks and holds below that level, it could decline toward the 43200/42800/42300/41700 levels.
Note: The above levels are for educational purposes. Not Buy/Sell advice.