Last week, Nifty and Bank Nifty continued to trade higher. The medium trend is up, but both indices can take a dip in the short term.
Next week, the 18330-350 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, 17190 & 17130 are the supports.
The Bank Nifty has crucial support at the 37900-38000 zone. If it breaks and sustains below that zone, it can fall more. On the upside, 38600 & 39200 are the resistance.
Nifty Weekly Gann Levels
Next week, 17 & 19 January, are the Gann dates for the Nifty 50 Index.
Resistance: 18350. Above that, the Nifty 50 Weekly trend can change, and it can start moving towards 18400/18460/18530/18610 levels.
Support: 18190. Below that, the Nifty 50 can start moving lower towards 18140/18080/18010/17930 levels.
Bank Nifty Weekly Gann Levels
Next week, 17 & 19 January, are the Bank Nifty Gann dates.
Resistance: 38650. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 38850/39150/39550/40050 levels.
Support: 38100. Below that, Bank Nifty can start moving lower towards 37900/37600/37200/36700 levels.
Note: The above levels are only for study. Not a Buy/Sell advice.
