Last week, the Nifty closed with a gain of 180 points, while the Bank Nifty closed with 1255 points gains.
The trend of Nifty in the upcoming week will be determined by the range zone of 19600-580. If the bulls break the 19990 Gann price and maintain it, they will have the upper hand.
For Bank Nifty, the 46500-550 range is crucial. Any sustained rise above the 46550 level will strengthen the Bulls further. On the downside, 45800 is critical support.
Weekly Gann Levels for the Nifty
The 24th & 28th of July are critical Gann dates for Nifty.
A break and hold above the 19870 resistance level could take the Nifty 50 Index higher toward 19950/20100/20300.
Gann support at the lower end is 19680. If the Index holds below that, it may decline toward 19620/19540/19400.
Weekly Gann Levels for Bank Nifty
The 25th & 27th of July are critical Gann dates for the Bank Nifty Index.
A break and hold above the 46550 resistance level could lift the Bank Nifty Index towards the 46750/47050/47450/47950 levels.
Bank Nifty Gann support at the lower end is at 45800. If the Bank Nifty breaks and holds below that level, it could decline toward the 45600/45300/44900/44400 levels.
Note: The above levels are for educational purposes. Not Buy/Sell advice.