Bank Nifty Weekly Analysis for 20-25 April

Last week we gave the Chopad level of 18816 Bank Nifty achieved 2 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 entering the demand zone where it got bounced before also,18250 if held can see 300-400 point bounce in bank nifty.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown,18300/250 will play crucial role in coming week.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

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

Supply Demand Zone


Bank Nifty Channel

daily chart

Taking support in  channel and again closed below its 100 DMA.Follow up move required.

Bank Nifty Harmonic

Daily Harmonic

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

Bank Nifty EW Daily

BN Daily EW

Use dips to keep accumulation quality banking stocks. 


Bank Nifty Market Profile

Market Proflie

As per Market Profile 18345  should be watched in coming week  below that 18063/17800  is short term target. Above it can move towards 18592/18624

Bank Nifty Daily Gunner

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 20 April/23 April  is Gann Turn date , except a impulsive around this dates. Last week we gave 13 April/15 April Day  and Bank Nifty saw a volatile move on both the days .

Fibonacci technique

Fibonacci Fans

Bank NIfty FF

Close below its 50 % retracement as per FF heading towards 61.8 or 38.2 %

Bank NIfty FR

78.6 % number is 18231 should be watched.

Bank Nifty Weekly


It was negative week, with the Bank Nifty up by 455 points  closing @18345  , closing below the support line of Andrew Pitchfork  and closing below its 20 WSMA @18519 which has given support .Time Analysis 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 50% retracement.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:18426

Bank Nifty Resistance:18556,19686,18946

Bank Nifty Support:18296,18036,17906

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. Ram Ganesh said:

    Dear Bramesh Sir,
    If I look at your Bank Nifty EW hourly daily chart ; I see that the point c is close to 17250; does this mean that Bankex can crash till there before Apr-25?

    April 20, 2015
  2. sibsankar said:

    Dear Sir,Pls refer me the name of the books to learn about pyrapoint and gunner.

    April 20, 2015

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