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Nifty Bank Nifty Trading Plan for 30 Aug-03 Sep Week

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Last week, Nifty and Bank Nifty took support from the exact levels (16380/34800), which we discussed in the previous weekly report. And both jumped over 2% from the lower levels.

Next week, If Nifty breaks and sustains above the 16720, it can rally towards 16800/900 levels. On the downside, 16660 is the support level.

Bank Nifty’s last week low is crucial. If the Index holds that low, then soon it will hit 36300/36600 levels. On the downside, 35400 is the support level.

Nifty Weekly Gann Levels

Next week, 30 August & 02 September, are the Nifty Gann reversal dates.

Resistance is at 16720 levels. Above that, Index can move towards 16760/16810/16870/16940.

Support is at 16660 levels; below that Nifty 50 Index can move towards 16620/16570/16510/16440.

Bank Nifty Weekly Gann Levels

Next week, 30 August & 01 September, are the Bank Nifty Gann reversal dates.

Resistant is at 35900 levels; above that Bank Nifty Index can move towards 36100/36400/36800.

Support is at 35400 levels; below that, Nifty Bank can move towards 35200/34900/34500.

Note: The above levels are only for study. Not a 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.