Bank Nifty Weekly Technical Analysis

By | April 14, 2014

Last Week we gave Chopad level of 12576  and Bank Nifty did all 3  target on upside.We have Inflation data coming tomorrow so bank nifty will be under traders radar. Lets analyze how to trade bank nifty coming week.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty hourly charts is sustaining above its  50 HSMA gives upperhand to Bulls.

Bank Nifty Daily

Bank Nifty Daily

Bank Nifty on daily chart is near its resistance area.Breakout comes above 13100 for target of 13400 and new life high .Strong support at 12500.

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 also signalling bank nifty will march towards its all time high of 13400 once its able to close and sustain above 13000.

Bank Nifty Weekly

^BANKNIFTY (Weekly)  Week 26_2012 - Week 15_2014

Bank Nifty Weekly chart is trading in the upper channel and suggests still more steam in left in rally once Bank nifty cross and sustains above 13100 on weekly basis we are heading towards a new life high .

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:12851

Bank Nifty Resistance:12960,12836,12966

Bank Nifty Support:12706,12576 and 12446

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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