Last week, the Nifty closed with a loss of 98 points, while the Bank Nifty closed with 607 points loss.
The Nifty’s trend for the upcoming week will depend on the 19550 level. If the bulls can break through the 19780 Gann price and sustain it, they will have the upper hand.
For Bank Nifty, the 45950-46050 range is crucial. Any sustained rise above the 46050 level will strengthen the Bulls further. On the downside, 45100 is critical.
Weekly Gann Levels for the Nifty
The 31st of July and the 04th of August are critical Gann dates for Nifty.
A break and hold above the 19780 resistance level could take the Nifty 50 Index higher toward 19880/19990/20100.
Gann support at the lower end is 19620. If the Index holds below that, it may decline toward 19540/19460/19360.
Weekly Gann Levels for Bank Nifty
The 03rd & 04th August are critical Gann dates for the Nifty Bank Index.
A break and hold above the 46050 resistance level could lift the Bank Nifty Index towards the 46400/46800/47200/47600 levels.
Bank Nifty Gann support at the lower end is at 45350. If the Bank Nifty breaks and holds below that level, it could decline toward the 45100/45700/44300/43800 levels.
Note: The above levels are for educational purposes. Not Buy/Sell advice.