Last week, Nifty and Bank Nifty continued to trade higher. And now both the indices are developing the buy-on dips structure. And in the coming days & weeks, both can show more higher levels.
Next week, the 17950-18010 zone is crucial for the Nifty. If bulls break and hold above that zone, the Index can trade higher in the week. On the downside, 17750 & 17560 are the supports.
The Bank Nifty has crucial resistance at 37990-38200 zone. If it breaks and sustains above that zone, it can trade higher. On the downside, 37500 & 36900 are the supports.
Nifty Weekly Gann Levels
Next week, 10 & 14 January, are the Gann dates for the Nifty 50 Index.
Resistance: 17910. Above that, the Nifty 50 Weekly trend can change, and it can start moving towards 17960/18020/18090/18170 levels.
Support: 17750. Below that, the Nifty 50 can start moving lower towards 17700/17640/17570/17490 levels.
Bank Nifty Weekly Gann Levels
Next week, 10 & 14 January, are the Bank Nifty Gann dates.
Resistance: 38100. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 38300/38600/39000/39500 levels.
Support: 37500. Below that, Bank Nifty can start moving lower towards 37300/37000/36600/36100 levels.
Note: The above levels are only for study. Not a Buy/Sell advice.