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Nifty Bank Nifty Analysis for 05-09 September Week

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Last week both indices opened a gap down, but on Tuesday, both recovered back, and both managed to close the week on a flat to a positive note. 

Next week, the 17460-450 zone will play an important role in deciding the Nifty Index trend. And a sustainable move below the 17150 will strengthen the bears more. On the upper side, 17630 & 17800 will act as the resistance. 

For Bank Nifty, the 39200-39000 zone will be crucial. And a move below the 38700 will strengthen the bears more. And the 39600-700 zone will act as the resistance on the upper side. 

nifty indices opened a gap down

Nifty Weekly Gann levels

Next week, 07 & 09 September, are the Gann dates for the Nifty 50 Index.

Resistance: 17630. Above that, the Nifty 50 can trade higher and reach 17700/17790/17900/18030 levels.

Support: 17450. Below that, the Nifty can move lower towards 17380/17290/17180/17050 levels.

Bank Nifty indices opened a gap down

Bank Nifty Weekly Gann levels

Next week, 07 & 09 September, are the Bank Nifty Gann dates.

Resistance: 39600. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 39800/40100/40500/41000 levels.

Support: 39200. Below that level, Bank Nifty can move lower towards 39000/38700/38300/37800 levels.

Note: The above levels are only for study. 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.