The Nifty closed last week with a loss of 88 points, while the Bank Nifty closed with 680 points loss.
The trend of the Nifty in the week ahead may depend on 19500. Bears will gain an advantage if they break and sustain below the Gann Price level 19200.
For Bank Nifty, the 44350-44400 Gann Price Range is crucial. Any sustained rise above the 44400 level will strengthen the Bulls. On the downside, 43700 is critical.
Weekly Gann Levels for the Nifty
The 14th & 16th of August are critical Gann dates for Nifty.
A break and hold above the 19500 resistance level could take the Nifty 50 Index higher toward 19650/19770/19900.
Based on the Gann Analysis, the lower support is at 19360. If the Nifty Index breaks and remains below that level, it could decline towards 19230/19100/18950.
Weekly Gann Levels for Bank Nifty
The 14th of August is a critical Gann date for the Bank Nifty Index.
A break and hold above the 44400 resistance level could lift the Bank Nifty Index towards the 44600/44900/45300/45800 levels.
Based on the Gann Analysis, the Bank Nifty support is at 43700. If the Bank Nifty Index breaks and remains below that level, it could decline towards 43500/43200/42800/42300.
Note: The above levels are for educational purposes. Not Buy/Sell advice.
