Last week, the Nifty closed with a loss of 129 points, while the Bank Nifty closed with 588 points loss.
The trend of the Nifty in the upcoming week could be determined by the level of 19655. Bears will gain an advantage if they break and sustain below the Gann Price level of 19420.
For Bank Nifty, the 45100-45350 Gann Price Range is crucial. Any sustained rise above the 45350 level will strengthen the Bulls. On the downside, 44150 is critical.
Weekly Gann Levels for the Nifty
The 07th and 08th of August are critical Gann dates for Nifty.
A break and hold above the 19655 resistance level could take the Nifty 50 Index higher toward 19870/19990/20100.
Based on the Gann Analysis, the lower support is at 19420. If the Nifty Index breaks and remains below that level, it could decline towards 19330, 19220, or 19100.
Weekly Gann Levels for Bank Nifty
The 07th and 09th of August are critical Gann dates for the Bank Nifty Index.
A break and hold above the 45250 resistance level could lift the Bank Nifty Index towards the 45450/45750/46150/46650 levels.
Based on the Gann Analysis, the Bank Nifty support is at 44600. If the Bank Nifty Index breaks and remains below that level, it could decline towards 44200/43900/43500/43000.
Note: The above levels are for educational purposes. Not Buy/Sell advice.
