Last week Nifty closed 200 points lower, but Bank Nifty closed 500 higher on a weekly close-to-close basis.
Next, the 18530-550 zone will play a vital role in deciding the weekly trend of the Nifty. And a sustained move above the 18350 level will strengthen the bears more.
For Bank Nifty, the 43500-43300 range is critical. A sustainable move below that zone can push the Bank Index lower. And 43800-900 zone will act as a resistance on the upside.
Nifty Weekly Gann levels
Next week, 12 & 15 December, are the Gann dates for the Nifty 50 Index.
The Nifty 50 Index has strong resistance at the 18550 level. If it breaks and holds above that, then it can trade higher and advance towards 18620/18710/18820/18950.
At the lower end, the Gann support level is at 18350. If the Index holds below that, then it can move lower towards 18280/18190/18080/17950.
Bank Nifty Weekly Gann levels
Next week, 12 & 15 December, are the Bank Nifty Gann dates.
The Bank Index has major resistance at the 43900 level. If it breaks and holds above that, then it can trade higher and advance towards 44100/44400/44800/45300.
At the lower end, the Gann support level is at 43300 level. If the Index holds below that, then it can move lower towards 43100/42800/42400/41900.
Note: The above levels are for educational purposes. Not Buy/Sell advice.
