Bank Nifty Hourly
Bank Nifty on hourly chart is showing a range contraction,and unable to close above 11750 can pull it back to lower end of trading range.
Bank Nifty Daily
Bank Nifty has been under performing nifty and still trading below its medium and long term moving averages.The Bank Index has to move past the swing high at the 12,000-mark to indicate a reversal of the recent downtrend. A fall below the 11,000-level would indicate that the short-term trend is still down.
Bank Nifty Fibo Fans
Fibo Fans has been applied on Bank Nifty weekly charts Bank Nifty is consolidating near 2X8 line of Fibo fans, from past 3 weeks signalling big move is round the corner.As always, it makes sense to await clues from price before judging the direction of the next big move.
Bank Nifty Fibo Retracement
As per Fibo theory 11845 is 61.8% retracement of 13420-10872.Closing below 11417 for coming weeek will spell trouble for bulls and we can see Bank Nifty in sub 1100 in coming week and trading above 11933-12000 can take bank nifty towards its all time high.
Bank Nifty Weekly
Bank Nifty on WoW basis was up by 288 points and closed at11722,From past 3 weeks BN has been taking support at its falling trendline,so weakness will be sub 11300 levels only and strenght above 12000. Between just a range play.
Bank Nifty Monthly
Monthly charts are approaching the short term trendline marked in blue color, unable to cross it and breaking 11300 will spell trouble for bulls.
Bank Nifty Trading Levels
Bank Nifty Trend Deciding Level:11792
Bank Nifty Resistance:11933,12050 and 12145
Bank Nifty Support:11541,11352 and 11165
Levels mentioned are Bank Nifty Spot
Let me go by Disclaimer these are my personal views and trade taken on these observation should be traded with strict Sl
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