Bank Nifty Weekly analysis for 2-6 December

By | December 1, 2013

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty hourly charts are showing negative divergence in leading indicators unable to cross 11232 and breaking 11040 negative divergence will come in effect.

Bank Nifty Daily

Bank Nifty on daily chart will face resistance at its 200 DMA@11232,Unable to cross the same will show an intital dip towards 10900 levels Crossing the same we can see an upmove till 11500 in next week

Bank Nifty Daily

Bank Nifty Fibo Fans

Bank NIfty FF

 

Bank NIfty FR

BN is also holding its 50% retracement at 10563 and resiting at 11236 which is 38.2% as shown in above chart.

Bank Nifty Weekly

Bank Nifty Weekly

Bank Nifty on WoW basis was up by 475 points and closed  @11154 Bank Nifty held on to  lower end of trendline and crossing 11232 will move to 11700 in coming 2 weeks.

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:11232

Bank Nifty Resistance:11406,11666 and 11926

Bank Nifty Support:10886,10626 and 10236

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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2 thoughts on “Bank Nifty Weekly analysis for 2-6 December

  1. seshagiri

    Dear Bramesh

    I have been following your chart analysis and found it simple, logical and on the dot…..

    For new traders like me, your analysis is very informative as well as important since those TV wallahs never speak truth to our benefit…but you are honest in your approach and analysis..
    keep up the good work and do send info updates if possible…willlook forward to it….

    Hope to see you touch pinnacle of glory in your journey in this field. you have the ability n capability to reach…good luck..
    may God be with you…

    seshagiri

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