Last week, both indices continued the rally. And Nifty closed 670 points higher, and Bank Nifty 2056 points up on a close-to-close basis.
Next week, the 16760-800 zone will play an important role in deciding the Nifty Index trend. And on the downside, a sustainable move below the 16490 will strengthen the bears.
For Bank Nifty, the 36800-37000 zone will be crucial. And on the downside, a move below the 36400-200 zone will strengthen the bears.
Nifty Weekly Gann levels
Next week, 27 & 29 July, are the Gann dates for the Nifty 50 Index.
Resistance: 16780. Above that, the Nifty 50 can trade higher and reach 16830/16900/16990/17100 levels.
Support: 16600. Below that, the Nifty 50 can move lower towards 16550/16480/16390/16280 levels.
Bank Nifty Weekly Gann levels
Next week, 27 & 29 July, are the Bank Nifty Gann dates.
Resistance: 37000. Above that, the Bank Nifty Weekly trend can change, and it can start moving towards 37200/37500/37900/38400 levels.
Support: 36400. Below that level, Bank Nifty can move lower towards 36200/35900/35500/35000 levels.
Note: The above levels are only for study. Not Buy/Sell advice.
Image and article originally from www.diveshtechanalysis.com. Read the original article here.