Bank Nifty Weekly Analysis for Dec Expiry

By | December 21, 2014

Last week we gave  Nifty Chopad level of 18296  .Bank Nifty did 3 target on downside  rewarding chopad followers by 600 points. Lets analyze how to trade Bank Nifty in expiry week

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty hourly chart will breakout above 18600 for target of 18900.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown,18600 will play crucial role next week.

Bank Nifty EW Daily

BN Daily EW

This is what we discussed last week Long term Elliot wave is drawn on Bank Nifty which gives target of 19819, so dips till 18000/17800 should be bought into.

Bank Nifty made low of 17504 and zoomed up 800 points.

 

 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 23 December +1 day  is Gann Turn date , except a impulsive around this date.Last week gann date rewarded with 550 points in single day.

Fibonacci technique

 

Fibonacci Fans

Bank NIfty FF

Bank nifty took support@ Fibo fan line suggesting still in buy on dips mode. Now break of 18600 will suggests new highs are coming.

 

Bank Nifty Weekly

Bank Nifty Weekly Bias

Bank Nifty Weekly chart took support at middle of  AF line and harmonic pattern suggests still its in buy on dips mode.Break of 18600 will suggest bank nifty can move up and form new life high.

BN Weekly Time Analysis

 

Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty in current correction took support@ 200% channel which is extremely bullish in short term. Holding the sam Bank nifty can approach to make a new life highs.

 

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:18556

Bank Nifty Resistance:18686,18946,19076

Bank Nifty Support:18426,18296,18166

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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