Bank Nifty Weekly Analysis 13-17 April

Last week we gave the Chopad level of 18686 Bank Nifty achieved 1 target on upside  and 1 target on downside .Lets analyze how to trade next week.

 Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty on hourly charts  is forming triangle pattern suggesting breakout/breakdown. Till trading above 18707/18637 bias on bullish for target of 19000/19250.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown,18905  will play crucial role in coming week.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

Strong support @135 degree line @18400, resistance at 90 degree line @ 19090.

 Supply Demand Zone


Bank Nifty Channel

daily chart

Entered back in  channel and crossed 100 DMA.Follow up move required.

Bank Nifty Harmonic

Daily Harmonic

Almost done with one round of rise can see pullback if 18905 is not crossed.

Bank Nifty EW Daily

BN Daily EW

Traders who bought  dips near 17500/17700 should have been rewarded. 


Bank Nifty Market Profile

Market Proflie

As per Market Profile 18640  should be watched in coming week  below that 18392 /18071 is short term target. Above it can move towards 19000/19500.

Bank Nifty Daily Gunner

Daily Gunner

On Daily chart near important Gunner support , which showed bounceback and now moving towards red line.

Bank Nifty Gann Dates

Nifty As per time analysis 13 April/15 April  is Gann Turn date , except a impulsive around this dates. Last week we gave 06 April/08 April  Day  and Nifty saw a volatile move on both the days .

Fibonacci technique

Fibonacci Fans

Bank NIfty FF

Close above  its 50 % retracement as per FF heading towards 61.8%

Bank NIfty FR

61.8 % number is 18803 should be watched.

Bank Nifty Weekly


It was positive week, with the Bank Nifty up by 183 points  closing @18803  , entering the support line of Andrew Pitchfork  and closing below its 20 WSMA @18758  which has given support in past 3 times.Entering a new quadrant next week which is going to be volatile with positive bias.

BN Weekly Time Analysis


Bank Nifty Weekly  Gunner

Weekly Gunner

Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty On Monthly chart prices got reject on higher end of Fibonacci channel now approaching the 61.8% retracement.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:18816

Bank Nifty Resistance:18946,19076,19206

Bank Nifty Support:18686,18556,18296

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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  1. sibsankar said:

    you are great,lots of thanks

    April 13, 2015
  2. hartalekar18 said:

    Respected Sir,
    Thank you very much for Update.

    April 13, 2015
  3. Bramesh said:

    Levels are updated seems some prob. Have been rectified.


    April 12, 2015
  4. Praveen said:

    Sir this week and last week bank nifty weekly chopad levels are same?

    April 12, 2015
  5. VILAS said:

    Respected Sir,
    Sir,Levels mentioned at last week is same. NOW BANK NIFTY CLOSED AT 18800 at Friday.

    April 12, 2015
  6. durairajan said:

    exellent thank you ji

    April 12, 2015

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