Bank Nifty Weekly Elliot,Gann and Fibo analysis

By | April 27, 2014

Last Week we gave Chopad level of 12836 M Bank Nifty made low of 12238 , did all 3 target on upside cool 364 points gained :), We have Fed meeting coming up next week , so markets will remain volatile Lets analyze how to trade bank nifty in next 3 trading sessions.

Bank Nifty Hourly Elliot Wave Analysis

Bank Nifty Hourly EW

Bank Nifty hourly charts is shown with Short term Elliot wave analysis,Initial Target of this dowmove comes around 12700-12800.

Bank Nifty Daily

Bank Nifty Daily

Bank Nifty on daily chart is near its trendline support area.Breadown comes below  12750 for target of 12500.As per time analysis next few days should be bearish for bank nifty.

Bank NIfty Time Analysis

Fibonacci technique

Fibonacci fan

Bank NIfty FF

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

Bank NIfty FR

Fibo Retracement has strong support at 12500 which is 61.8% retracement.

Bank Nifty Weekly

Bank Nifty Weekly

Bank Nifty Weekly chart as per gann angle is at 1×1 sector, any close below it we are heading towards 4×1 sector which comes around 12700 odd levels,

Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty has risen 18.5% in March series,April month has showed a strong support near 12500.

 

 Bank Nifty Trading Levels

Bank Nifty Trend Deciding Level:13096

Bank Nifty Resistance:13226,13356,13486

Bank Nifty Support:12966,12836 and 12706

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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