Last week both Indices declined from higher levels. The Bank Index fell twice from higher levels.
The Nifty and Bank Nifty trend is bullish. But the short-term trend is bearish. Both Indices can decline more.
Nifty 50 Index EOD close above 15825 levels will end the short-term bearish view. And below the 15600-590, range bears will take control.
The Bank Index range is big on the upside. Keep an eye on 35100-34950 zone. EOD close below the range will add more weakness in Bank Nifty trend.
Nifty Weekly Gann Levels
Next week, 08 & 10 June, are the Nifty Gann reversal dates.
Resistance is at 15760 levels. Above that, Index can move towards 14810/15870/15950.
Support is at 15650 levels; below that Nifty 50 Index can move towards 15600/15540/15460.
Bank Nifty Weekly Gann Levels
Next week, 08 & 10 June, are the Bank Nifty Gann reversal dates.
Resistant is at 35600 levels; above that Bank Nifty Index can move towards 35800/36200/36800.
Support is at 35100 levels; below that, Nifty Bank can move towards 34900/34500/33900.
Note: The above levels are only for study. Not a Buy/Sell advice.