Nifty Weekly View For 30 Dec-03 Jan

Last week below 12210 Nifty did our 1st target on the downside; it made the low around 12118 in the week. The Nifty ended the previous week with 26 points loss.

In the previous week, we also discussed. The Index is approaching the critical Fixed Time Cycle period; the effect of that cycle was seen very well during the week.

As first on Monday, Bank Nifty made the Top of the week & then on Thursday, it made the bottom/low of the week.

Nifty Weekly Gann Angle Chart

Nifty Weekly Trading View

In the coming days, Bank Nifty bulls need to trade above 12310 for continuing the upside journey.

On the lower end, the 12130 is the Support to watch, below that we can see a dip towards 12080/11990 levels.

In the forthcoming week, 23rd & 26th Dec are the critical dates.

Nifty Weekly Trading Levels

Next week 12310 will act as Resistance above which move towards 12360/12440/12560 can seen.

While Support is likely to come at, 12170 below that move towards 12120/12040/11920 can be seen

Note: Above mention Price projection & other Information are for educational purpose only.

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.