On a weekly close-to-close basis, the Nifty closed 87 points higher. But Bank Nifty closed 420 points lower.
Next week, the 18100 level will play a critical role in deciding the weekly trend of the Nifty. The bears will gain an advantage if they move and sustains below the 17800 level.
The 41650 level for Bank Nifty is decisive. A sustained move above that zone can push the Bank Index higher. On the downside, the 40700 level will act as support.
Weekly Gann Levels for the Nifty
Next week, 21 & 22 February, are the Gann dates for the Nifty 50 Index.
A break and hold above the 18040 level could take the Nifty 50 Index higher towards the 18100/18180/18300 levels.
A lower-end Gann support is at the 17850 level. If the Index holds below that, then it may move toward the 17690/17610/17490 levels.
Weekly Gann Levels for Bank Nifty
Next week, 21 & 23 February, are the Bank Nifty Gann dates.
A break and hold above the 41300 level could take the Bank Nifty Index higher towards the 41500/41800/42200/42700 levels.
A lower-end Gann support is at 40700. If the Index holds below that, then it may move toward the 40500/40200/39800/39300 levels.
Note: The above levels are for educational purposes. Not Buy/Sell advice.