On a weekly close-to-close basis, the Nifty closed 71 points higher, and the Bank Nifty 135 points higher.
There is a strong probability that the 18080-18100 zone will play a decisive role in deciding the weekly trend of the Nifty. The bears will gain an advantage if they move below the 17990 level and sustain it.
The 42750-850 range for Bank Nifty is critical. A sustained move above that zone can push the Bank Index higher. On the downside, the 42200 level will act as support.
Weekly Gann Levels for the Nifty
Next week, 25 January, is the Gann date for the Nifty 50 Index.
A break and hold above the 18100 level could take the Nifty 50 Index higher towards the 18150/18220/18310/18420 levels.
A lower-end Gann support is at 17990. If the Index holds below that, then it may move toward the 17940/17870/17780/17670 levels.
Weekly Gann Levels for Bank Nifty
Next week, 25 January, is the Bank Nifty Gann date.
A break and hold above the 42850 level could take the Bank Nifty Index higher towards the 43050/43350/43750/44250 levels.
A lower-end Gann support is at 42200. If the Index holds below that, then it may move toward the 42000/41700/41300/40800 levels.
Note: The above levels are for educational purposes. Not Buy/Sell advice.
