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Weekly Nifty Bank Nifty Analysis for 06-10 March Week

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On a weekly close-to-close basis last week, the Nifty closed 128 points higher, and Bank Nifty closed 1340 points lower.

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 sustains below the 17500 level.

The 41700 level for Bank Nifty is decisive. A sustained move above that zone can push the Bank Index higher. On the downside, the 40900 level will act as support.

Gann date for the Nifty

Weekly Gann Levels for the Nifty

Next week, 06 March, is the Gann date for the Nifty 50 Index.

A break and hold above the 17700 level could take the Nifty 50 Index higher towards the 17770/17860/17970/18100 levels.

A lower-end Gann support is at the 17550 level. If the Index holds below that, then it may move toward the 17480/17390/17180/17050 levels.

Gann date for the Bank Nifty

Weekly Gann Levels for Bank Nifty

Next week, 08 March, is the Bank Nifty Gann date.

A break and hold above the 41450 level could lift the Bank Nifty Index towards the 41650/41950/42350/42850 levels.

A lower-end Gann support is at 40900. If 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.

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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.