Last week both indices ended the week on a negative note. The Nifty ended 300 and Bank Nifty 350 points lower on a close to close basis.
Next week, the 17500-570 zone will play an important role in deciding the Nifty weekly trend. On the downside, a move below the 17300-280 zone will strengthen the bears.
The Bank Nifty bulls need to hold the 37100 zone for a bounce-back. On the upside, 37700 will act as a strong resistance.
Nifty Weekly Gann levels
Next week, 18 & 22 April, are the Gann dates for the Nifty 50 Index.
Resistance: 17510. Above that, the Nifty 50 Weekly trend can change, and it can start moving towards 17560/17620/17690/17770 levels.
Support: 17380. Below that, the Nifty 50 can start moving lower towards 17330/17270/17200/17120 levels.
Bank Nifty Weekly Gann levels
Next week, 18 & 22 April, are the Bank Nifty Gann dates.
Resistance: 37700. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 37900/38200/38600/39100 levels.
Support: 37100. Below that, Bank Nifty can start moving lower towards 36900/3660036200/35700 levels.
Note: The above levels are only for study. Not Buy/Sell advice.