The Nifty Bank Nifty Analysis for 10-14 April Week

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.

Levels for the Nifty

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.

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.