Bank Nifty Weekly Forecast for Feb Expiry

By | February 21, 2016 3:43 pm

Last Week we gave Chopad Level 14000 Bank Nifty short initiated  below chopad levels on Wednesday got stopped out but Longs Triggered did 2 target by Friday .Lets analyze how to trade Bank Nifty in coming Expiry  week.

Bank Nifty Hourly

Bank Nifty Hourly

As discussed last week Now in coming week 14216 needs to be watched which is 270 degree, closing above it can see move towards 14500/14800.

Bank Nifty made high of 14602,  Now in coming week 14400 should be watched closing above it can see Bank Nifty towards 14978 which is 180 degree gann angle, Unable to do so back to 14000/13800.

Bank Nifty Harmonic

Daily Harmonic

As discussed last week Bank Nifty has completed its  black swan harmonic pattern so closing above 14150, can see move till 14251/14524. Both target done

Now close above 14524 can see move towards 14745/14965.

Gann Angles

Gann Angles

Bank Nifty broken the gann angles and now support lies in area of 13500-13600, resistance in zone of 14500-14700.

Bank Nifty Supply and Demand


Self Explanatory Chart

Bank Nifty Gann Dates

Bank Nifty As per time analysis  24 Feb is Gann Turn date , except a impulsive around this dates.

Fibonacci technique

 Fibo Retracement

Bank NIfty FR

Fibo levels to be watched in coming week, 14400/14587/14771 and 14143

Bank Nifty Weekly

Weekly AF

It was positive week, with the Bank Nifty up by 372 points  closing @14344  unable to close above the lower line of AF  closed just near its 200 W SMA, Close above 14558 can see fast move of 500-600 points.

Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart  took support at 23.6%,Holding it bank nifty can revisit 15000/15245 levels.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:14400

Bank Nifty Resistance:14524,14666,14989

Bank Nifty Support:14280,13960,13810

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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