Last week, Nifty and Bank Nifty continued their earlier week’s rally.
The next week is crucial. Many Gann time cycles will complete their period, which may trigger the pullback.
The 17410-425 is a crucial zone where Nifty can take resistance. If Nifty breaks and sustains above that, it can rally towards 17600/17800/18100 levels. On the downside, 17290 and 17190 are the important support levels.
And in Bank Nifty 36200-400 zone is crucial. Above that Bank, Index is in a stable position, and below that (if it sustains), it can drop 800-1000 points.
Nifty Weekly Gann Levels
Next week, 06 September, is the Nifty Gann reversal date.
Resistance is at 17425 levels. Above that, Index can move towards 17495/17585/17695/17825.
Support is at 17290 levels; below that Nifty 50 Index can move towards 17220/17130/17020/16890.
Bank Nifty Weekly Gann Levels
Next week, 30 August & 01 September, are the Bank Nifty Gann reversal dates.
Resistant is at 35900 levels; above that Bank Nifty Index can move towards 36100/36400/36800.
Support is at 35400 levels; below that, Nifty Bank can move towards 35200/34900/34500.
Note: The above levels are only for study. Not a Buy/Sell advice.