Bank Nifty Weekly Technical Forecast

By | February 2, 2014

Last Weekly we gave Chopad level Bank Nifty 10814 and achieved on downside levels.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty hourly charts is trading below its 50HSMA,and also near its lower end of downtrending channel, Holding 10100 strong bounceback can be seen, Unable to hold the same 9800-9500 levels can be seen.

Bank Nifty Daily

Bank Nifty Daily

Bank Nifty on daily chart is near its trendline support . Breaking the same Bank nifty can go down all the way upto 9500.Holding the same bounceback can be seen till 10500-10800 odd levels.Positive divergence is also visible on daily charts.

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 FRFibo Retracement also signalling support @10230 and resistance at 10850.

Bank Nifty Weekly

Bank Nifty Weekly

Bank Nifty is trading near its trendline support which if not broken is  bullish in short term. Breakdown below 10100 for target of 9600-9400 in short term.Bounce back only on close above 10250 for 10500-10800

Bank Nifty Monthly

Bank Nifty MonthlyBank Nifty has fallen 10% in the month of Jan. 9833 is strong support on Monthly charts.

 Bank Nifty Trading Levels

Bank Nifty Trend Deciding Level:10256

Bank Nifty Resistance:10366,11496,10626

Bank Nifty Support:9976,9846,9716

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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