Nifty Bank Nifty Weekly Analysis for 24-28 Jan Week

Last week, both Nifty & Bank Nifty fell and ended the week in the red. It was expected and the same we discussed in the previous week’s analysis that both the indices could take a dip in the short term.

Next week, the 17660-710 zone will play an important role in deciding the Nifty weekly trend. If bulls break and hold above that zone, the Index can trade higher. On the downside, 17500 & 17300 are the supports.

The Bank Nifty has strong resistance at 37750-38000 zone. If it breaks and sustains above that zone, it can trade higher. On the downside, the 37200-37000 zone is the support.

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the Nifty weekly trend

Nifty Weekly Gann Levels

Next week, 25 January, is the Gann date for the Nifty 50 Index.

Resistance: 17710. Above that, the Nifty 50 Weekly trend can change, and it can start moving towards 17780/17860/17950/18050 levels.

Support: 17500. Below that, the Nifty 50 can start moving lower towards 17430/17350/17260/17160 levels.

the Bank Nifty weekly trend

Bank Nifty Weekly Gann Levels

Next week, 24 January, is the Bank Nifty Gann date.

Resistance: 37800. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 38000/38300/38700/39200 levels.

Support: 37200. Below that, Bank Nifty can start moving lower towards 37000/36700/36300/35800 levels.

Note: The above levels are only for study. Not a Buy/Sell advice.

About the author

Divesh Jotwani is a full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day-in and-out markets.