Even after last week’s solid weekly closing, Nifty and Bank Nifty fell fiercely this week.
The higher time frame charts are not in favor of bulls. The 15500-16015 wide range will decide the further trend of the markets.
Bank Nifty has also reached a crucial stage on weekly charts, which suggests that it will soon give either side breakout. I post more on that in my daily market reports.
Nifty Weekly Gann Levels
Next week, 26 & 30 July, are the Nifty Gann reversal dates.
Resistance is at 15900 levels. Above that, Index can move towards 15940/16010/16110.
Support is at 15820 levels; below that Nifty 50 Index can move towards 15780/15710/15610.
Bank Nifty Weekly Gann Levels
Next week, 27 & 30 July, are the Bank Nifty Gann reversal dates.
Resistace is at 35100 levels; above that Bank Nifty Index can move towards 35250/35500/36050.
Support is at 34850 levels; below that, Nifty Bank can move towards 34700/34450/33900.
Note: The above levels are only for study. Not a Buy/Sell advice.