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Nifty Bank Nifty Gann Analysis for 28 Nov-02 Dec Week

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Both indices ended higher last week. Nifty closed 200 points higher, and Bank Nifty closed 540 points higher on a close-to-close basis.

Next, the 18450-430 zone will play a vital role in deciding the weekly trend of the Nifty. And a sustained move above the 18770 level will strengthen bullish sentiment.

For Bank Nifty, the 42800-42700 range is critical. A sustainable move below that zone can push the Bank Index lower. And 43600 will act as a major hurdle on the upside.

major hurdle on the upside for nifty

Nifty Weekly Gann levels

Next week, 28 & 30 November, are the Gann dates for the Nifty 50 Index.

The Nifty 50 Index has strong resistance at the 18620 level. If it breaks and holds above that, then it can trade higher and advance towards 18680/18770/18890/19040.

At the lower end, the Gann support level is at 18430. If the Index holds below that, then it can move lower towards 18370/18280/18160/18010.

major hurdle on the upside for bank nifty index

Bank Nifty Weekly Gann levels

Next week, 28 & 30 November, are the Bank Nifty Gann dates.

The Bank Index has major resistance at the 43300 level. If it breaks and holds above that, then it can trade higher and advance towards 43500/43800/44200/44700.

At the lower end, the Gann support level is at 42700 level. If the Index holds below that, then it can move lower towards 42500/42300/41900/41400.

Note: The above levels are for educational purposes. Not Buy/Sell advice.

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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.