Bank Nifty Weekly Forecast for Expiry Week

By | February 23, 2014

Last Weekly we gave Chopad level Bank Nifty 10221 and achieved 2 target  upside.

 Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty hourly charts is trading above  its 200HSMA@10485 ,Closing above 10630bounceback can be seen till 10800-10900.

Bank Nifty Daily

Bank Nifty Daily

Bank Nifty on daily chart is near its trendline support with contraction in trading rang .Breakout comes above 10630 and breakdown below 10450, Breakout on upside bounceback can be seen till 10800-10900 odd levels where 200 DMA of Bank Nifty lies.

Fibonacci technique

Fibonacci fan

Bank NIfty FF

Bank Nifty Fibonacci fan is near its Fibo Fan support level as seen in above chart.

Bank NIfty FR

Fibo Retracement also signalling support @10256 and resistance at 10850.

Bank Nifty Weekly

Bank Nifty Weekly

Bank Nifty has bounced from its trendline support and now approaching a weekly breakout above 10630,which if  broken is  bullish in short term for target of 10800-10900. Breakdown below 10450 for target of 10000-10200 in short term.

Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty has risen 3% in feb series till date.We got close above 10400 and Bank Nifty has entered the Fibo Arc which will be bullish in short term.

 Bank Nifty Trading Levels

Bank Nifty Trend Deciding Level:10626

Bank Nifty Resistance:10701,10800,10982

Bank Nifty Support:10052,10460,10366

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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