Bank Weekly Analysis for March Expiry

By | March 22, 2015

Last week we gave the Chopad level of 18686 Bank Nifty achieved 3 target on upside made low of 18688 and Chopad level was 18686.Lets analyze how to trade next week.

 Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty is entering  in 2 Demand zones are marked in above chart, 18500 and 18300 respectively.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown,18489 will play crucial role in coming week.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

As per Pyrapoint Box Bank Nifty is coming near the 90 degree of pyrapoint holding the same counter trend rally 18800/19000 is expected.

 

Bank Nifty Channel

daily chart

On the verge of breaking the channel will 100 DMA will come to rescue for bulls again ?

Bank Nifty Harmonic

Daily Harmonic

Bank Nifty is on the verge of forming Bullish Butterfly pattern price action near 18500 should be watched holding the same bullish move can be seen as per this pattern.

Bank Nifty EW Daily

BN Daily EW

Again dips near 18500/18200 should be bought into near quality banking stocks. 

 

Bank Nifty Market Profile

Market Proflie

As per Market Profile 18500 and below that 18184 are 2 important support and above 18787 and 19033 are the resistance.

Bank Nifty Gann Dates

Nifty As per time analysis 24 March/27 March +-Day  is Gann Turn date , except a impulsive around this dates. Last week we gave 16/20 Mar Day  and Nifty saw a volatile move on both the days .16 it created short term bottom and rallied and 20 made a new low.

Fibonacci technique

Fibonacci Fans

Bank NIfty FF

Now broke  its  Fibo Fans support unable to cross upper end can lead to 18222 are levels we can see.

Bank NIfty FR

Bank Nifty Weekly

BN AF

It was negative week, with the Bank Nifty down  by 173  points  closing @18606  forming a gravestone doji candlestick pattern, and breaking the middle line of Andrew Pitchfork  and closing below its 20 WSMA @18837  which has given support in past 3 times, Next week we need to close above 20 WSMA. .Also we are entering a new time cycle from 09March-27 March which will be highly volatile so trade cautiously.Gunner on weekly chart suggests short term bottom can be made in next 2 session.

BN Weekly Time Analysis

Daily Gunner

Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty On Monthly chart prices got reject on higher end of Fibonacci channel now approaching the demand zone of 18500/18222

 

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:18686

Bank Nifty Resistance:18816,18946,19076

Bank Nifty Support:18556,18426,18296

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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One thought on “Bank Weekly Analysis for March Expiry

  1. Nifty

    Sir
    Your analysis is very helpful.
    But a suggestion please post larger images in your analysis, or allow right click option as was available in previous posts, some time back

    Thanks

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