Last week, Nifty rallied over 350 points, and Bank Nifty rallied over 1000 points above the Gann resistance levels discussed in the earlier weekly report.
The coming week is crucial as various Gann time cycles will achieve their sequence ends. Hence, that can trigger a pullback in the present uptrend.
Next week, If Nifty breaks and holds above the 17670-680 zone, it can rally back towards 17800 and 17990 levels. On the downside, 17470-430 is the support zone.
And Bank Nifty needs to break and hold above 38150 for further upside. On the downside, 37500 and 37200 are the support levels.
Nifty Weekly Gann Levels
Next week, 22 & 24 September, are the Nifty Gann reversal date.
Resistance is at 17680 levels. Above that, Index can move towards 17730/17810/17940/18070.
Support is at 17480 levels; below that Nifty 50 Index can move towards 17430/17350/17220/17090.
Bank Nifty Weekly Gann Levels
Next week, 21 & 24 September, are the Bank Nifty Gann reversal dates.
Resistant is at 38150 levels; above that Bank Nifty Index can move towards 38350/38650/39050.
Support is at 37500 levels; below that, Nifty Bank can move towards 37300/37000/36600.
Note: The above levels are only for study. Not a Buy/Sell advice.
