Bank Nifty Weekly Analysis before RBI event

By | November 30, 2014

Last week we gave  Nifty Chopad level of 17126  .Bank Nifty did 1 target on downside and all 3 target on upside rewarding chopad followers by 500 points.  Lets analyze how to trade Bank Nifty going in RBI event.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty Trendline resistance comes @ 18620, Bank Nifty can rise all the way to 18700/18000 before any profit booking comes in.

 

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

 

Bank Nifty EW Daily

BN Daily EW

Bank Nifty daily chart is showing impulsive 5 wave and have moves above 18000 now can continue till 18700 where we will review it once again.

 

 Bank Nifty Daily Bias

Bank Nifty Daily Bias

Bank Nifty daily bias has turned to Buy the Dips for next week.

 

Bank Nifty Gann Dates

As per time analysis 04 December +/-1 day  is Gann Turn date , except a impulsive around this date.  Last week we gave 25 November  is Gann Turn date and Nifty  showed expected move.

Fibonacci technique

 

Fibonacci Fans

Bank NIfty FR

Bank nifty is now entering in resistance zone of 18700 odd levels, unable to cross Fibo Fan high can see profit booking.

 

Bank Nifty Weekly

BN AF

Bank Nifty Weekly chart As per AF bank nifty target can now exetend to 18700/19000 odd levels as shown in above chart.

BN Weekly Time Analysis

 

Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty is also approaching the trendline on upside signalling bulls needs to be cautious now.

 

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:18556

Bank Nifty Resistance:18686,18816,19076

Bank Nifty Support:18296,18036,17776

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.Please also read the detailed Disclaimer mentioned in the Right side of Blog.

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3 thoughts on “Bank Nifty Weekly Analysis before RBI event

  1. Shiva Kumar

    Dear Bramesh,
    Please share your views on Titan Company, as there is announcement from govt, which favours jewellery stocks, Titan is one of them. I am planning to go for 2 lots in December futures at tomorrow`s market price, it could be intra-day or positional depends upon profit i make. Please share your valuable views, whether to go for it or not.

    Thanks in advance.
    Shiva Kumar.

  2. sanjay

    Your analysis on bank nifty is really helpful for traders, if you post some large bank specific information it will be more helpful for trading.

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