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 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 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.