Bank Nifty Weekly Technical Analysis before RBI Policy

Last week we gave the Chopad level of 18036 Bank Nifty achieved 3 target on upside made low of 18809 and Chopad level was 18036.Lets analyze how to trade next week as we have RBI policy on Tuesday.

 Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty on hourly charts  entered in  Demand zones and reacted sharply on upside.Now resistance zone marked in above chart will become support.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown,18660  will play crucial role in coming week.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

This is what we wrote last week As per Pyrapoint Box Bank Nifty held its 180  degree of pyrapoint holding the same counter trend rally 18500  is expected.

Now 135 degree @ 18400 will act as strong support.


Bank Nifty Channel

daily chart

Entered back in  channel but Unable to cross 100 DMA.

Bank Nifty Harmonic

Daily Harmonic

Almost done with one round of rise can see pullback if 18700 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 18800 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 is entering a new quadrant in coming week.

Bank Nifty Gann Dates

Nifty As per time analysis 06 April/08 April  is Gann Turn date , except a impulsive around this dates. Last week we gave 30 March/01 April Day  and Nifty saw a volatile move on both the days .01 April saw a big rally.

Fibonacci technique

Fibonacci Fans

Bank NIfty FF

Close above  its 50 % retracement as per FF.

Bank NIfty FR

38.2 % number is 18700 should be watched.

Bank Nifty Weekly


It was positive week, with the Bank Nifty up by 573 points  closing @18617  , 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.

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:18686

Bank Nifty Resistance:18816,18946,19206

Bank Nifty Support:18556,18296,18166

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. pratibha said:

    Can u pls advice me with expected expiry level for april series for bank nifty spot?

    April 15, 2015
  2. deepak kumar said:

    Thanks Bramesh for detailed Bank Nifty analysis from all aspects. 18800 Will be important level to watch it seems.

    April 6, 2015
  3. vishnu nayak said:

    Thank you sir

    April 5, 2015

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