Bank Nifty Hourly
Bank Nifty hourly charts is near its rising 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 is shown as above.
Bank Nifty Daily
Bank Nifty daily has given a textbook style breakout, made new high @ 16309 and consolidating now, PSU banks have given a fresh breakout which can move index further up till 16500-16600. Correction can come till 16000.
Bank Nifty Daily EW
Bank Nifty Gann Dates
16-Sep is Gann turn date for Bank Nifty, expect explosive move near this date.
Bank Nifty approaching the resistance line of Fibo Fan, unable to close above it will lead to correction else uptrend continues.
Bank Nifty Weekly
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.
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:16220
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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