On a weekly close-to-close basis last week, the Nifty closed 228 points higher, and the Bank Nifty closed 1091 points higher.
Next week, the 17980 level will play a critical role in deciding the Nifty weekly trend. The bears will gain an advantage if they move and stay below 17650.
Bank Nifty’s 42300 level is decisive; any sustained rise above that level will be positive for Bank Nifty’s bulls. On the downside, the 41500-400 range will act as support.
Weekly Gann Levels for the Nifty
Next week, the 18th & 20th of April, is an Important Gann date for Nifty.
A break and hold above the 17870 resistance level could take the Nifty 50 Index higher towards the 17920/18000/18130/18260 levels.
Lower-end Gann support is at 17700. If the Index holds below that, it may move toward the 17650/17570/17440/17310 levels.
Weekly Gann Levels for Bank Nifty
Next week, the 19th & 20th of April, is an Important Gann date for Bank Nifty.
A break and hold above the 42100 resistance level could lift the Bank Nifty Index towards the 42500/42800/43200/43700 levels.
Lower-end Gann support is 41500. If the Bank Nifty breaks and holds below that level, it could move toward the 41300/41000/40600/40100 levels.
Note: The above levels are for educational purposes. Not Buy/Sell advice.