Bank Nifty Weekly Analysis for May Expiry

By | May 25, 2014

Bank Nifty will be on traders radar next week, with announcement of new FM, Bank Nifty will likely to see a good trending move.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty hourly charts is poised for a breakout above 15320 for a traget of 15750.

Bank Nifty Daily Elliot Wave Analysis

BN Daily EW

Bank Nifty on daily chart as per Elliot wave gives a target of 16300.

 

Fibonacci technique

Fibonacci fan

Bank NIfty FF

Bank Nifty Fibonacci fan has taken resistance from its fibo resistance, Bullish only above 15320 a for short term target of 15700 and 16000.

Bank NIfty FRBank Nifty has been holding its 23.6% retracement,so till 15000 is not broken on closing basis bulls have upper hand.

 

Bank Nifty Weekly

Bank Nifty Weekly

Bank Nifty Weekly chart as per Andrew Pitchfork has crossed the median line and looks very strong on weekly charts, Also as per gann timeline bank nifty has entered in positive quadrant suggesting its in buy on dips mode.

Bank NIfty Time Analysis

Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty as per monthly chart gives target of 16700-17000

 

 Bank Nifty Trading Levels

Bank Nifty Trend Deciding Level:15306

Bank Nifty Resistance:15436,15696,15956

Bank Nifty Support:15176,15046 and 14919

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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