Last week, both indices ended higher. The Nifty closed 232 points higher, and Bank Nifty closed 878 points higher on a close-to-close basis.
Next, the 18480-500 zone will play a vital role in deciding the weekly trend of the Nifty. On the downside, a sustained move below 18250 will strengthen the bears.
For Bank Nifty, the 42400-500 range is critical. A sustainable move above that zone can push the Bank Index higher. And 41850 will act as support on the lower side.
Nifty Weekly Gann levels
Next week, 14 & 16 November, are the Gann dates for the Nifty 50 Index.
The Nifty 50 Index has strong resistance at the 18480 level. If it breaks and holds above that, then it can trade higher and advance towards 18560/18660/18780/18920.
At the lower end, the Gann support level is at 18250. If the Index holds below that, then it can move lower towards 18170/18070/17950/17810.
Bank Nifty Weekly Gann levels
Next week, 14 & 16 November, are the Bank Nifty Gann dates.
The Bank Index has major resistance at the 42500 level. If it breaks and holds above that, then it can trade higher and advance towards 42700/43000/43400/43900.
At the lower end, the Gann support level is at 41850 level. If the Index holds below that, then it can move lower towards 41650/41350/40950/40450.
Note: The above levels are for educational purposes. Not Buy/Sell advice.
