Bank Nifty continues with its uptrend,Weekly Forecast

By | July 18, 2016 2:58 am

Last Week we gave Chopad Level 18099  Bank Nifty opened way above our chopad levels, Risky traders who would have taken long got rewarded as it did all 3 targets, but most of traders would have stayed out as it never touched chopad levels. As we always says NO level no trade and wait for next opportunity . Lets analyze how to trade in coming week.

Bank Nifty Hourly

Bank Nifty Hourly

 Coming week, 19000 needs to be watched  closing above it 19230/19500 can be seen quickly as we see a breakout of the channel. Bearish below 18750 for short term target of 18500/18230.

Bank Nifty Harmonic

Daily Harmonic

Shark Pattern target come around 18470 if 19030 is not crossed. Close above 19030 pattern is invalidated.

Gann Angles

Gann Angles

As discussed in last analysis  Now for coming week 17910/18100 will play crucial role above 18100 that 18260/18490/18758 are target.Close below 17910 can see fall till 17700/17450.

All Target done, Coming week  18750 will play crucial role, Holding the same can see move towards 19230/19500. Bearish on close above 18750.


Bank Nifty Supply and Demand


Bulls need to hold above 18768 for next move towards 1923/19500 Bearish below 18750 for 18490/18280.

Bank Nifty Gann Dates

Bank Nifty As per time analysis  18/22 July  is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

Weekly AF

It was positive week, with the Bank Nifty up by 937 points  closing @18953 closed above the upper end of the AF line, As discussed in last analysis  Bulls need a close above 18100 for target of 18500/18880, Bears need close below 17950 for fast move towards 17700/17500.

High made was 19016, Now bulls need a close above 19000 for move till 19230/19500.

Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart support at 38.2 % fibo ratio and resistance at 23.6%

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:19000

Bank Nifty Resistance:19140,19360,19510

Bank Nifty Support:18750,18500,18280

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.

Want to see post in your Inbox,Register by adding your email id in Post in your Inbox section

Follow on Facebook during Market Hours:

Follow on Twitter during Market Hours:

Leave a Reply