On a weekly close-to-close basis last week, the Nifty closed 414 points higher, and the Bank Nifty closed 1213 points higher.
Next week, the 17600 level will play a critical role in deciding the weekly trend of the Nifty. The bears will gain an advantage if they move and manage to stay below the 17100 level.
Bank Nifty’s 41100 level is decisive; any sustained rise above that level will be good for Bank Nifty’s bulls. On the downside, the 40400 level will act as support.
Weekly Gann Levels for the Nifty
Next week, 03 April, is an Important Gann date for Nifty.
A break and hold above the 17410 resistance level could take the Nifty 50 Index higher towards the 17470/17560/17670/17800 levels.
Lower-end Gann support is at the 17230 level. If the Index holds below that, then it may move toward the 17170/17080/16970/16840 levels.
Weekly Gann Levels for Bank Nifty
Next week, 03 April, is an Important Gann date for Bank Nifty.
A break and hold above the 40900 resistance level could lift the Bank Nifty Index towards the 41100/41400/41800/42300 levels.
Lower-end Gann support is at 40400. If the Bank Nifty breaks and holds below that level, then it could move toward the 40200/39900/39500/39000 levels.
Note: The above levels are for educational purposes. Not Buy/Sell advice.
