Last week, Nifty & Bank Nifty opened (on Monday) flat to positive. But again, bears ruled the whole week, and both Indices ended the week in the red.
Next week. If Nifty breaks and holds below 16850-800 zone, it can go lower. On the upside, 17010-17100 is the resistance zone.
And Bank Nifty bulls need to break and hold above the 36300 levels for a bounce-back. On the downside, 35390-200 is the major support zone.
Nifty Weekly Gann Levels
Next week, 29 Nov & 01 Dec, are the Gann date for the Nifty 50 Index.
Resistance: 17010. Above that, the Nifty 50 Weekly trend can change, and it can start moving towards 17080/17160/17250/17350 levels.
Support: 16800. Below that, the Nifty 50 can start moving lower towards 16730/17650/16560/16450 levels.
Bank Nifty Weekly Gann Levels
Next week, 30 Nov & 01 Dec, are the Bank Nifty Gann date.
Resistance: 36300. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 38500/39800/39200/39700 levels.
Support: 35800. Below that, Bank Nifty can start moving lower towards 37500/37200/36800/36300 levels.
Note: The above levels are only for study. Not a Buy/Sell advice.