Bank Nifty Weekly Analysis for September 2014 Expiry

By | September 21, 2014

Last week we gave  Nifty Chopad level of 16220 and Bank Nifty did 3 target on downside. Lets analyze how to trade in September Expiry Week.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty hourly charts is near its downward falling trendline support break of 16000 can see a downmove till 15750. Else new high is coming again holding 16000

 

Bank Nifty Hourly Elliot Wave

Bank Nifty Hourly EW

Bank Nifty hourly EW is shown as above.

Bank Nifty Daily

Bank Nifty Daily

Bank Nifty daily is near its trendline resistance on daily chart 16450-16500 is the supply zone as per trendline analysis.

 

Bank Nifty Daily EW

 BN Daily EW

Bank Nifty is still trading in its 3 wave as shown in above chart and dips till 15800-15850 should be bought into.

Bank Nifty Daily Bias

Bank Nifty Daily Bias

Bank Nifty daily chart has moved in Neutral bias from Bullish on daily time frame.

Bank Nifty Gann Dates

As per time analysis 22 Sep is Gann Turn date, except a impulsive around this date. Last week 16 Sep gave the big move as expected.

Fibonacci technique

Fibonacci fan

Bank NIfty FF

Bank Nifty took support @ fibo fan and bounced back sharply, now range of 16450-16500 is the resistance zone @ Fibo Fan.

 

Bank Nifty Weekly

BN AF

Bank Nifty Weekly chart as per Andrew Pitchfork again made an attempt to cross the AF line but unable to do so, This week 16000 needs to be watched closely on weekly basis,  unable to close above it we can see a pullback like last time we saw BN turned after touching AF. Very interesting trading days ahead.

BN Weekly Time Analysis

Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty is also approaching the trendline on upside was unable to cross the first time. September closing will be keenly watched.

 

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:16200

Bank Nifty Resistance:16346,16476,16606

Bank Nifty Support:16086,15956 and 15826

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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