Bank Nifty Weekly Analysis for August Expiry

Last week we gave the Chopad level of 18770 Bank Nifty did 1 target on upside and 3 target on downside rewarding disciplined chopad followers. Lets analyze how to trade market in coming week .

Bank Nifty Hourly

Bank Nifty as per EW analysis 17500/17600 should be seen in coming week.

Bank Nifty Pyrapoint Indicator

Bank NIfty has broken the 135 and 90 degree line and is heading towards 180 degree line.

Gann Box

Bank NIfty 4×1 line  will act as resistance now  and heading towards 8×1 line @17600 should be seen closely in coming week.

Bank Nifty EW Daily

Use dips to keep accumulation quality banking stocks. Long term targets are still pending as shown above.

Who bought banking stocks should have been rewarded handsomely, profit booking is always advised.

Bank Nifty Supply and Demand

 Bank Nifty rotated between Supply and Demand zone and rewarding traders who shorted at Demand zone and bought back at supply zone. Self Explanatory chart shown above.

Bank Nifty Gann Dates

Nifty As per time analysis  23 August/27August is Gann Turn date , except a impulsive around this dates. Last week we gave  19 August/21 August Bank Nifty saw a volatile move .

 

MML Analysis

17500 strong support as per Murry Math Line Analysis

Fibonacci technique

 

17800/17612  should be closely watched for further price action.

Bank Nifty Weekly

It was negative week, with the Bank Nifty down  by 666 points  closing @18057  forming bearish engulfing candlestick pattern . Support at median of AF line @17800 near lower end of AF We are still in Bullish time cycle from 14 June till mid September, correction in between should be bought into with proper risk management.

Bank Nifty Monthly

Again  Monthly unable to cross Breakout level now near breakdown level.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:17850

Bank Nifty Resistance:18000,18150,18265

Bank Nifty Support:17635,17470,17210

 

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.Please also read the detailed Disclaimer mentioned in the Right side of Blog.

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