Last week, both indices ended higher. The Nifty closed 330 points higher, and Bank Nifty closed 267 points higher on a close-to-close basis.
Next, the 18300-330 zone will play a vital role in deciding the weekly trend of the Nifty. On the downside, a sustained move below 18100 will strengthen the bears.
For Bank Nifty, the 41900-42100 range is critical. A sustainable move above that zone can push the Bank Index higher. And 41400 and then 40800 will act as support on the lower side.
Nifty Weekly Gann levels
Next week, 09 November, is the Gann date for the Nifty 50 Index.
The Nifty 50 Index has strong resistance at the 18330 level. If it breaks and holds above that, then it can trade higher and advance towards 18410/18510/18630/18770.
At the lower end, the Gann support level is at 18150. If the Index holds below that, then it can move lower towards 18070/17970/17850/17710.
Bank Nifty Weekly Gann levels
Next week, 09 November, is the Bank Nifty Gann date.
The Bank Index has major resistance at the 41900 level. If it breaks and holds above that, then it can trade higher and advance towards 42100/42400/42800/43300.
At the lower end, the Gann support level is at 41400 level. If the Index holds below that, then it can move lower towards 41200/40900/40500/40000.
Note: The above levels are for educational purposes only. Not Buy/Sell advice.
