Bank Nifty ready to march to 20K,Weekly Analysis

By | February 15, 2015

Last week we gave the Chopad level of 18686 Bank Nifty achieved 2 target on downside and 3 target on upside rewarding chopad followers by 900 points  . Lets analyze how to trade Bank Nifty in coming week.

 Bank Nifty Hourly

Bank Nifty Hourly

As discussed last weeek Bank NIfty hourly charts are approaching the demand zone as seen in hourly chart so range of 18600-18400 needs to be closely watched holding the same can see sharp and swift move on upside. Unable to do so can fall till 18000.

Bank Nifty reacted sharply and up more than 1200 points from lows. Now 19513-19950 zone needs to be closely watched any close above the same bank nifty is heading to 20K.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown,19450 will play crucial role next week for the count mentioned above to work.

Bank Nifty EW Daily

BN Daily EW

This current dip should be used to start taking exposure to banking stocks as still higher targets are pending.


Bank Nifty Gann Box

BANKNIFTY - Gann Box

Weekly chart has just close above the green line and closing above the same bank nifty is heading towards 20K

Bank Nifty Daily Bias

daily chart

Bank Nifty after breaking the channel briefly is trying to enter back in up trending channel, Any close above 19550 will make sure bank nifty is back in channel and heading towards new life high.

 

Bank Nifty Gann Dates

Bank Nifty As per time analysis 18 Feb/20 Feb  is Gann Turn date , except a impulsive around this dates. Last week we gave 09 Feb/12 Feb Day  and Bank Nifty saw a volatile move on that day .

Fibonacci technique

Fibonacci Fans

Bank NIfty FF

Approaching the higher end of FF

Bank NIfty FR

Bank Nifty Weekly

BN AF

Bank Nifty Weekly chart touched the middle line of Andrew Pitchfork and should give now  sharp and swift upside move. AS discussed last week   Also the new time cycle started on negative note  and 2 negative weeks are over so time to use dips to buy quality banking stocks.

BN Weekly Time Analysis

 

Bank Nifty Monthly

Bank Nifty Monthly

18500 will play  a major role of monthly chart and should be closely watched in coming week.

 

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:19466

Bank Nifty Resistance:19596,19726,19986

Bank Nifty Support:19336,19076,18816

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 ready to march to 20K,Weekly Analysis

  1. jkpahuja

    Very very nice analysis. May I request you to please share which kind of software do you use.Is it a customised or available in the market place. Pl do share. Thanks.

  2. prem soni

    Rbi policy due u say when.i donot think so.pls correct me.

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