Last week, Nifty closed 97 points higher, and Bank Nifty 180 points higher on a weekly close-to-close basis.
Next week, the 18000-18030 zone will play a vital role in deciding the weekly trend of the Nifty. And a sustained move above the 18270 level will strengthen the bulls more.
For Bank Nifty, the 42550-750 range is critical. A sustainable move above that zone can push the Bank Nifty Index higher. And the 42200 level will act as support on the downside.
Nifty Weekly Gann levels
Next week, 17 & 20 January, are the Gann dates for the Nifty 50 Index.
The Nifty 50 Index has strong resistance at the 18030 level. If it breaks and holds above that, then it can trade higher and advance towards 18080/18140/18210/18290.
At the lower end, Gann support is at the 17830 level. If the Index holds below that, then it can move lower towards 17780/17720/17650/17570.
Bank Nifty Weekly Gann levels
Next week, 16 & 20 January, are the Bank Nifty Gann dates.
The 42550 level is resistance for the Bank Nifty Index. If it breaks and holds above that, then it can trade higher and advance towards 42750/43050/43450/43950.
The Gann support level is at the 42200 level at the lower end. If the Index holds below that, then it can move lower towards 42000/41700/41300/40800.
Note: The above levels are for educational purposes. Not Buy/Sell advice.