Bank Nifty Weekly Forecast for Jan Expiry

By | January 22, 2017 8:35 pm

Last Week we gave Chopad Level 18970 Bank Nifty gave Long Entry on Monday did 1 target and missed the 2 target by 24 points as high made was 19276, shorts got initiated on Friday which almost did the 1 target. Lets Analyze how to trade bank nifty in coming week as we approach Jan Expiry.

Bank Nifty Hourly

As discussed in last analysis Now Bulls need a close above 19000 for a move towards 19500/19700. Unable to close above 19000 correction till 18500.

Unable to close above 18966 can see move towards 18500 and 18250, Bullish only on close above 18966 for a move towards 19200/19500.

Bank Nifty Harmonic Pattern

Bearish cypher forming in bank nifty can see move towards 18446/18250.

Supply and Demand Analysis

As discussed in last analysis Close above 18739 done now move towards 19648 holding 18739

Bulls failed to move towards 19648 and now we are at critical situation closing above 18966 required for move towards 19200/19500 and bears below 18750 can see move towards 18500/18373.

Gann Angles

Bank Nifty bounced from gann support zone holding 18500 can move towards 20000.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 22/25 Jan  is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was negative week, with the Bank Nifty down by 91  points  closing @18820. Bank Nifty was again unable to cross the  resistance of upper line of AF Bank Nifty which its not able to break in last 20 weeks. Bulls need close above 19200 and bear below 1875 for a 500 points move.

Bank Nifty Monthly

Monthly chart needs to hold 18400, Bulls to continue have upperhand

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:18740

Bank Nifty Resistance:18920,19120,19450

Bank Nifty Support:18650,18480,18300

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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