Last week, after 14 & 15 February, dramatic move indices traded in a range. And hence both ended the week on a flat note.
Let’s discuss the important levels for the next week.
The 17390-410 zone will play a crucial role in deciding the next week’s Nifty trend. On the downside, the 17220 & 17080 are the major support points.
Bears have the upper hand until Bank Nifty is trading below 37800-900 zone. Then, on the downside, the 37200 & 36600 are major supports.
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Nifty Weekly Analysis
Next week, 22 & 24 February, are the Gann dates for the Nifty 50 Index.
Resistance: 17410. Above that, the Nifty 50 Weekly trend can change, and it can start moving towards 17470/17540/17620/17710 levels.
Support: 17220. Below that, the Nifty 50 can start moving lower towards 17160/17090/17010/16920 levels.
Bank Nifty Weekly Analysis
Next week, 22 & 24 February, are the Bank Nifty Gann dates.
Resistance: 37800. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 38000/38300/38700/39200 levels.
Support: 37200. Below that, Bank Nifty can start moving lower towards 37000/36700/36300/35800 levels.
Note: The above levels are only for study. Not a Buy/Sell advice.