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Nifty Bank Nifty Weekly Trading Strategy 28 Dec-01 Jan

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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 chart

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.

Nifty Bank Weekly Gann Chart

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. 

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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.