Last week Nifty surged near 4% and Bank Nifty Index around 8%.
In the past few Weekly analysis, we discussed both the Indices Nifty and Bank Nifty are in a powerful position in the larger period (weekly) and can move higher. It happened.
Both the Indices can rally more. Now the short-to-medium-term trend has turned up.
Nifty Weekly Gann Levels
Next week, 25 & 28 May, are the Nifty Gann reversal dates.
Resistance is at 15220 levels. Above that, Index can move towards 14270/15340/14430/15550.
Support is at 15080 levels; below that Nifty 50 Index can move towards 15030/14960/14870/14750.
Bank Nifty Weekly Gann Levels
Next week, 25 & 28 May, are the Bank Nifty Gann reversal dates.
Resistant is at 34850 levels; above that Bank Nifty Index can move towards 35100/35500/36100/36900.
Support is at 34200 levels; below that, Nifty Bank can move towards 33950/33500/32900/32100.
Note: The above levels are only for study. Not a Buy/Sell advice.