Last week as analyzed, pullback came from near the fixed time cycle points. And both Nifty/Bank Nifty after pullback continued their up move.
Nifty and Bank Nifty both are hovering & taking resistance from the Gann price cycle level.
The 11780-11810 range is crucial for the Nifty 50 Index. The Bank Nifty Gann price cycle resistance is around 30990-31150, which’s now far.
Both the Indices need to break and hold above the discussed resistance level for more rally.
Nifty Weekly Analysis
Next week 29 & 31st December, are the important Gann dates.
Next week, 13810 will act as Resistant; above that, Index can advance towards 13860/13930/14050.
Support is at 13670 levels; Below that, Index can move towards 13620/13550/13430.
Bank Nifty Weekly Analysis
Next week 29 & 31st December, are the critical Gann dates.
Next week, 30600 will act as Resistant; above that, Index can advance towards 30750/30999/31550.
Support is at the 30180 levels., Below that Bank Index can turn towards 30030/29780/29250.
Note: The above levels are only for study. Not a Buy/Sell advice.
