Bank Nifty Weekly Analysis for week 19-23 Nov

By | November 18, 2013

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty hourly is resisting to its 50 HMSA, 2 Hour close above 10900 will give strength to bulls, Holding 10900 Bank Nifty can rally all the way upto 11400 odd levels.

Bank Nifty Daily

Bank Nifty on daily chart took support at its 100 DMA and after whipsawing the rising trendline is back with the trend.Next target for this upmove comes at 200 DMA.

Bank Nifty Daily

Bank Nifty Fibo Fans

Bank NIfty FF

Fibo Fans was once again able to capture the top of Bank Nifty 🙂

 

Bank NIfty FR

BN is also holding its 50% retracement at 10563 as shown in above chart, the correction we saw was healthy for BN.

Bank Nifty Weekly

Bank Nifty Weekly

Bank Nifty on WoW basis was down by 101 points and closed  @10811 Bank Nifty held on to  lower end of trendline and formed a DOJI pattern, move above 11000 BN will make one more attempt towards its recent swing high at 11700

Bank Nifty Monthly

Bank Nifty Monthly

Monthly charts are trading near Fibo arcs suggesting the short term correction might be over and we are looking for a pullback on upside.

 Bank Nifty Trading Levels

Bank Nifty Trend Deciding Level:11001

Bank Nifty Resistance:11146,11276 and 11406

Bank Nifty Support:10886,10756,10626 and 10496

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

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