Last week both indices closed on a negative note. Nifty closed 150 and Bank Nifty 600 points down on a close-to-close basis.
Next week, the 16070-40 zone will play an important role in deciding the Nifty Index weekly trend. And on the upside, keep an eye on the 16260-290 zone. A sustainable above that will again strengthen the bulls.
For Bank Nifty, the 33800-700 zone will be crucial. And on the upside, keep an eye on the 34500-600 zone. A sustainable above that will again strengthen the bulls.
Nifty Weekly Gann levels
Next week, 13 & 15 June, are the Gann dates for the Nifty 50 Index.
Resistance: 16170. Above that, the Nifty 50 can trade higher and move towards 16220/16280/16350/17430 levels.
Support: 16040. Below that, the Nifty 50 can move lower towards 15990/15930/15860/15780 levels.
Bank Nifty Weekly Gann levels
Next week, 15 & 17 June, are the Bank Nifty Gann dates.
Resistance: 34300. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 34500/34800/35200/35700 levels.
Support: 33700. Below that level, Bank Nifty can start moving lower towards 33500/33200/32800/32300 levels.
Note: The above levels are only for study. Not Buy/Sell advice.
