Last week Nifty and Bank Nifty Index traded lower after striking a high on Monday.
The Bank Nifty Index is trading in a weak zone. Bank Nifty needs to sustain or close above the 32900-950 range to enter the positive trading zone.
But Nifty 50 Index last to last weekly close was positive, and Index is managing that point well.
Next week 14480-590 range will play a crucial role for the Index. If bulls hold the range mentioned above next week with a positive build-up on a weekly time frame, then Index can bounce back.
Nifty 50 Index Weekly Gann Levels
Next week, 17 & 20 May, are the crucial Nifty Gann reversal dates.
Resistance is at 14780 levels. Above that, Index can move towards 14830/15900/14990/15150.
Support is at 14550 levels; below that Nifty 50 Index can move towards 14490/14420/14330/14170.
Bank Nifty Index Weekly Gann Levels
Next week, 17 & 20 May, are the crucial Bank Nifty Gann reversal dates.
Resistance is at 32500 levels; above that Bank Nifty Index can move towards 32650/32900/33200/33700.
Support is at 31900 levels; below that, Nifty Bank can move towards 31750/31500/31200/30700.
Note: The above levels are only for study. Not a Buy/Sell advice.
