Bank Nifty Weekly Analysis

By | March 3, 2015

Last week we gave the Chopad level of 19076 Bank Nifty achieved 3 target on downside and 3 target on upside.Lets analyze how to trade next week.

 Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty is approaching the resistance line of  hourly chart suggesting breakout/breakdown is on cards. Break of 20100 suggests bank nifty can move towards 20800/21000. Any break below 19800 can see move towards 19300/19500.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown,20100 will play crucial role next week for the count mentioned above to work.

Bank Nifty EW Daily

BN Daily EW

We have been adovating the same in past week analysis This current dip should be used to start taking exposure to banking stocks as still higher targets are pending. Hope traders are rewarded.

Bank Nifty Gann Box

BANKNIFTY - Gann Box

Weekly chart has just close around the yellow line and closing above the same bank nifty is heading towards 21K. Like we discussed last week Gann Box suggests big move is round the corner.

 

 

Bank Nifty Gann Dates

Nifty As per time analysis 04 March  is Gann Turn date , except a impulsive around this dates. Last week we gave 24 Feb/28 Feb Day  and Bank Nifty saw a volatile move on both the days .

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 from past 3 weeks is trading around the middle line of Andrew Pitchfork and unable to give the swift move as we were expecting. Yesterday it closed above it holding the same upmove can be expected till 20500 else a cool off towards 19500. Time Analysis also shows we are in sideways move time cycle.

BN Weekly Time Analysis

 

Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty is approaching the Fibo regression channel hence caution advised.

 

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:19986

Bank Nifty Resistance:20116,20376,20506

Bank Nifty Support:19856,19726,19466

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

  1. Naga

    Thanks Bramesh for the detailed analysis and blog

  2. tejas dave

    banknifty stagnant , nifty holding due to cnxit and reliance. is banknifty going for pause or correction?

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