On a weekly basis, the Nifty closed 142 points higher last week, and the Bank Nifty closed just 177 points higher.
Next week’s Nifty trend will depend on the 19550-570 range zone. Bears will have an advantage if they break and remain below the 19280 Gann price level.
For Bank Nifty, the 45100-45400 range is crucial. Any sustained rise above the 45400 level will strengthen the Bulls. On the downside, 44700 is a critical support level.
Weekly Gann Levels for the Nifty
The 11th & 12th of July are critical Gann dates for Nifty.
A break and hold above the 19440 resistance level could take the Nifty 50 Index higher toward 19550/19670/19820.
Gann support at the lower end is 19280. If the Index holds below that, it may decline toward 19170/19050/18900.
Weekly Gann Levels for Bank Nifty
The 11th & 12th of July are critical Gann dates for the Nifty Bank Index.
A break and hold above the 45400 resistance level could lift the Bank Nifty Index towards the 45600/45900/46300/46800 levels.
Bank Nifty Gann support at the lower end is at 44700. If the Bank Nifty breaks and holds below that level, it could decline toward the 44500/44200/43800/43300 levels.
Note: The above levels are for educational purposes. Not Buy/Sell advice.