The Nifty closed last week 384 points higher, while the Bank Nifty closed 720 points higher.
The trend of Nifty next week will be decided by the 19999 Gann level. The Bears will Gain an advantage if they Break and sustain below the 19740 Gann Price level.
In Bank Nifty, the 45900-46050 Gann Price Range is crucial. A sustained rise over the 46050 level will Strengthen the Bulls. On the downside, 44900 is crucial.
The Nifty has fallen below its Seasonal Support Point, which is crucial for Bulls and could trigger further declines in the Nifty, more details of which can be found in the video below, along with some additional insights.
Weekly Gann Levels for the Nifty
The 11th & 15th of September are critical Gann dates for Nifty.
A break and hold above the 19900 resistance level could take the Nifty 50 Index higher toward the 19990/20130/20300 levels.
Based on the Gann Analysis, the lower support is at 19740. If the Nifty Index breaks and remains below that level, it could decline towards 19660/19550/19400 levels.
Weekly Gann Levels for Bank Nifty
The 14th of September is a critical Gann date for the Bank Nifty Index.
A break and hold above the 45600 resistance level could lift the Bank Nifty Index towards the 45800/46100/46500/47100 levels.
Based on the Gann Analysis, the Bank Nifty support is at 44900. If the Bank Nifty Index breaks and remains below that level, it could decline towards 44700/44400/44000/43500.
Note: The above levels are for educational purposes. Not Buy/Sell advice.