Nifty Bank Nifty Gann Analysis for 08-12 August Week

Last week, both indices continued the rally. And the Nifty closed at 239, and Bank Nifty was 429 points higher on a close-to-close basis.

Next week, the 17450-530 zone will play an important role in deciding the Nifty Index trend. And on the downside, a sustainable move below the 17150-130 zone will strengthen the bears.

For Bank Nifty, the 38200-38350 zone will be crucial. And on the downside, a move below the 37200 will strengthen the bears.

indices continued the rally

Nifty Weekly Gann levels

Next week, 10 August, is the Gann date for the Nifty 50 Index.

Resistance: 17530. Above that, the Nifty 50 can trade higher and reach 17600/17690/17800/17830 levels.

Support: 17370. Below that, the Nifty can move lower towards 17300/17210/17100/16970 levels.

Bank Nifty Weekly Gann levels

Next week, 10 August, is the Bank Nifty Gann date.

Resistance: 38350. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 38600/39000/39500/40100 levels.

Support: 37700. Below that level, Bank Nifty can move lower towards 37450/37050/36550/35950 levels.

Note: The above levels are only for study. Not Buy/Sell advice.

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.