Bank Nifty ready for range expansion, Weekly Analysis

Last week we gave the Chopad level of 17906  Bank Nifty achieved 1 target on downside and 1 target on upside  rewarding discipline chopad followers .Lets analyze how to trade next week.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty entered in demand zone and saw a strong bounceback. Till Holding below  21/34 EMA @bears  have upper hand.Any close above 18300 will give a breakout and see bank nifty moving towards 18500/18600 levels/

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown, 18260 will play crucial levels next week.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

Traded well in the range of Pyrapoint Analysis Support @180 degree line , resistance at 270 degree line.

Supply Demand Zone


Self Explanatory chart depicting Supply and Demand zone.

Bank Nifty Channel

daily chart

200 DMA is held so bulls have upper hand and close above 18300 can see bank nifty moving towards trendline resistance @19000 in medium term.

Bank Nifty Harmonic

Daily Harmonic

Next round of up move above 18260 for 18500/18600.

Bank Nifty EW Daily

BN Daily EW

Use dips to keep accumulation quality banking stocks. Long term targets are still pending as shown by Pink region.


Bank Nifty Daily Gunner

Daily Gunner

On Daily chart near important Gunner resistance @1*1 line,close above it will lead to trend change

Bank Nifty Gann Dates

Bank Nifty As per time analysis 18 May/22 May  is Gann Turn date , except a impulsive around this dates. Last week we gave 11 /14 May  and Bank Nifty saw a volatile move on both the days .

Fibonacci technique

Fibonacci Fans

Bank NIfty FF

Close near its 38.2 % retracement as per FF

Bank NIfty FR

38.2/50  % number is 18505/18894 should be watched.

Bank Nifty Weekly

Weekly AF

It was positive week, with the Bank Nifty up by 386 points  closing @18183 , closing at the extended support line of Andrew Pitchfork  and closing below its 20 WSMA and holding 50 WSMA , also we have seen contraction in weekly chart suggesting explosive move is round the corner. As per Gunner close above 18300 can see move till 18500/18800.Still in volatile time cycle.

Weekly Contraction

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 held the 78.6% retracement.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:18300

Bank Nifty Resistance:18420,18580,18700

Bank Nifty Support:18000,17800,17600

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. Bramesh said:


    Please google apa zones


    May 17, 2015
  2. Yusuf patel said:

    Which color depict what??
    Dark blue. Light Blue and grey..?

    May 17, 2015
  3. mahadev said:

    sir nifty weekly ?

    May 17, 2015
  4. Bramesh said:

    Color band signify supply and demand zones.


    May 17, 2015
  5. prakash tanak said:

    Same request as above. Pl explain the various colour bands of the chart depicting Supply and Demand zone.

    May 17, 2015
  6. Yusuf patel said:

    Can u explain demand supply chart?
    What does each color band indicate??

    May 17, 2015

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