Bank Nifty Weekly Forecast for Vote-on-Account week

By | February 16, 2014

Last Weekly we gave Chopad level Bank Nifty 10321 and achieved 1 target  downside levels.Bank Nifty has been trading in small range since  last 2 week, coming week is So Bank Nifty will show good technical move in coming week.Vote-on-Account, or interim budget for 2014-2015, which the government will unveil during trading hours on Monday, 17 February 2014, will set the tone for the Bank Nifty in coming  week.

 Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty hourly charts is trading below its 50HSMA@10240 ,Closing above 10240 strong bounceback can be seen till 10500-10600, Unable to close above  the same 9800-9500 levels can be seen.

Bank Nifty Daily

Bank Nifty Daily

Bank Nifty on daily chart is near its trendline support with contraction in trading rang .Breakout comes above 10400 and breakdown below 10000, Breaking on downside the same Bank nifty can go down all the way upto 9500.Breakout on upsdie bounceback can be seen till 10600-10800 odd levels.

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 @10200 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 10000 for target of 9600-9400 in short term.Bounce back only on close above 10250 for 10500-10800

Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty has fallen 10% in the month of Jan. 9833 is strong support on Monthly charts.Any close above 10400 will enter the Fibo Arc which will be bullish in short term.

 Bank Nifty Trading Levels

Bank Nifty Trend Deciding Level:10221

Bank Nifty Resistance:10395,10550,10710

Bank Nifty Support:10070,9890,9720

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 Forecast for Vote-on-Account week

  1. Bramesh Post author

    Thanks Sir !! Hope you minted money on this trade..

    Rgds,
    Bramesh

  2. SV.S.Raman

    what you mentioned for banknifty weekly chart retracement level 38.2%gets broken at 10256.your first and second target achived for upside.nice prediction sir.

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