Bank Nifty Weekly Analysis for 19-23 Jan

By | January 18, 2015

Last week we gave the Chopad level of 18686 Bank Nifty achieved 1 target on downside and missed with long entry with gap up . Lets analyze how to trade in coming week.

Bank Nifty Hourly

Bank Nifty Hourly

As discussed last week new high came, Now high of 19410 should be watched closing above it can see bank nifty marching towards 19500/19600 Bank Nifty hourly chart is forming a triangle pattern breakout comes above 18800 for a target of new high and breakdown 18400 for initial target of 18100

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown,19400 will play crucial role next week.

Bank Nifty EW Daily

BN Daily EW

As per EW on daily chart use dips, deep correction  in bank nifty to make positions in quality banking stocks, Many Banking stock can give atleast 30-50% return in 2015.

 

 Bank Nifty Daily Bias

Bank Nifty Daily Bias

Bank Nifty need to cross 19400 for the bullish momentum to sustain, unable to cross can we down move till 18900/19400.

 

Bank Nifty Gann Dates

As per time analysis 21 Jan +- 1 day  is Gann Turn date , except a impulsive around this date.Last week we gave 16 Jan and Bank Nifty saw explosive up move on 15 Jan.

Fibonacci technique

Fibonacci Fans

Bank NIfty FF

Bank nifty took support@ Fibo fan line suggesting still in buy on dips mode. Now break of 19400 will suggests more  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 19400 will suggest bank nifty can move up till 19500/19600 and form new life high.Bank Nifty will enter new time quadrant in coming week.

BN Weekly Time Analysis

 

Bank Nifty Monthly

Bank Nifty Monthly

This is what we discussed in previous  analysis Bank Nifty in current correction took support@ 200% channel which is extremely bullish in short term. Holding the same Bank nifty can approach to make a new life highs.

 

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:19336

Bank Nifty Resistance:19466,19596,19856

Bank Nifty Support:19206,19076,18946

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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2 thoughts on “Bank Nifty Weekly Analysis for 19-23 Jan

  1. saptarshi sinha

    how to trade with ……..”Trend Deciding Level” in bank nifty

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