Last week we gave the Chopad level of 16250 Bank Nifty gave Long entry on Monday and continued with the Rally throughout the week achieved all 3 target on Upside by Thursday. Lets analyze how to trade Bank Nifty in coming week.This will be the Last weekly analysis of 2015 as coming week due to personal commitments No Weekly and Daily Analysis will be published from 24 Dec-30 Dec.
Bank Nifty Hourly
Bank Nifty again got sold off from 90 degree angle.
Bank Nifty Harmonic
Till 16777 is not crossed as per SHARK pattern Bank nifty can move towards 16269/16114,
Gann Angles
Gann Angles with medium term view is shown above.
Bank Nifty Supply and Demand
Self Explanatory Chart
Bank Nifty Gann Dates
Bank Nifty As per time analysis 23 Dec is Gann Turn date , except a impulsive around this dates. Last week we gave 16 Dec Bank Nifty saw a volatile move .
Fibonacci technique
Fibo Retracement
Fibo levels to be watched in coming week, 16923/16663/16291
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 251 points closing @16595 bouncing from AF medial line also unable to close above its 20/50 WSMA, closed above 100 WSMA, Bulls will be safe only on Weekly close above 16900, till than rallies will get sold into.
Bank Nifty Monthly
Monthly chart took support at 38.2% and showed some respite.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:16500
Bank Nifty Resistance:16670,16850,17000
Bank Nifty Support:16270,16025,15930
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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