On a weekly close-to-close basis, the Nifty closed 249 points higher, and the Bank Nifty 1154 points higher.
In the coming week, the 17930 level is going to play a critical role in determining the weekly trend of the Nifty Index. The bears will gain an advantage if they move and hold below the 17680 level next week.
For Bank Nifty, the 41700 level is crucial. A sustained move above that zone can push the Bank Index higher. On the downside, the 41000 level can act as a support level.
Weekly Gann Levels for the Nifty
Next week, 08 & 10 February, are the Gann dates for the Nifty 50 Index.
A break and hold above the 17930 level could take the Nifty 50 Index higher towards the 17980/18050/18130/18240 levels.
A lower-end Gann support is at the 17680 level. If the Index holds below that, then it may move toward the 17630/17560/17470/17360 levels.
Weekly Gann Levels for Bank Nifty
Next week, 08 & 09 February, are the Bank Nifty Gann dates.
A break and hold above the 41700 level could take the Bank Nifty Index higher towards the 41900/42200/42600/43100 levels.
A lower-end Gann support is at 41000. If the Index holds below that, then it may move toward the 40800/40500/40100/39600 levels.
Note: The above levels are for educational purposes. Not Buy/Sell advice.
