Bank Nifty Weekly Analysis for 27-30 April

Last week we gave the Chopad level of 18496 Bank Nifty achieved 3 target on downside   and got stopped out on upside .Lets analyze how to trade next week.

 Bank Nifty Hourly

Bank Nifty on hourly charts is entering the demand zone where it got bounced before also,17800 if held can see 300-400 point bounce in bank nifty.

Bank Nifty Hourly  EW Daily

Hourly Elliot wave analysis is shown,17800/17750  will play crucial role in coming week.

Bank Nifty Pyrapoint Indicator

Resistance @135 degree line @18400, support at 180 degree line @ 17800.

Supply Demand Zone

Bank Nifty Channel

Taking support in  channel and again closed below its 100 DMA. heading towards 200 DMA.

Bank Nifty Harmonic

Almost done with one round of fall can see pullback if 18450/500.

Bank Nifty EW Daily

Use dips to keep accumulation quality banking stocks. 

 

Bank Nifty Market Profile

As per Market Profile 18116 should be watched in coming week  below that 17412/17800  is short term target. Above it can move towards 18509/18700

Bank Nifty Daily Gunner

On Daily chart near important Gunner resistance @1*2 line,unable to cross the same can see deeper fall.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 28 April/30 April  is Gann Turn date , except a impulsive around this dates. Last week we gave 20 April/23 April Day  and Bank Nifty saw a volatile move on both the days .

Fibonacci technique

Fibonacci Fans

Close near its 38.2 % retracement as per FF

78.6 % number is 18231 should be watched.

Bank Nifty Weekly

It was negative week, with the Bank Nifty down by 343 points  closing @18001  , closing below the support line of Andrew Pitchfork  and closing below its 20 WSMA @18001 unable to cross above 20WSMA can head towards 50 SMA@17111 .As per gunner heading towards green arc.

 

Bank Nifty Weekly  Gunner

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:18036

Bank Nifty Resistance:18166,18426,18686

Bank Nifty Support:17906,17776,17516

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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