Nifty Weekly Analysis 13-17 Jan

After our last post, Nifty traded below 12130 and did our both the targets. The Index ended the previous week with 30 points gain.

On the weekly chart, Nifty is again back towards the Gann Angle resistance line; for further upside bulls need to break & hold above it.

Nifty Weekly Trading View

nifty weekly
Nifty Weekly Gann Angle Chart

In the coming days, Nifty bulls need to trade above 12365 for continuing the upside journey.

On the lower end, significant support is still at 12130 only, below that we can again see a dip towards 12060/11970/11860 levels.

In the forthcoming week, 13 & 17 Jan are the critical dates.

Nifty Weekly Trading Levels

Next week 12325 will act as Resistance above, which move towards 12375/12455/12605 can be seen.

While Support is likely to come at, 12180 below that move towards 12130/12050/11900 can be seen.

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.