Bank Nifty form Bearish Engulfing ,Weekly Analysis

By | June 7, 2015

Last week we gave the Chopad level of 18816  Bank Nifty achieved 3 target on downside rewarding discipline chopad followers .Lets analyze how to trade next week.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty with gann angles are shown, took support at 8×1 and now need to close above 4×1 for bulls to get momentum.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown, 17450  will play crucial levels next week.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

Traded well in the range of Pyrapoint Analysis Support @225 degree line , resistance at 180 degree line.

Supply Demand Zone

Support

Self Explanatory chart depicting Supply and Demand zone.

Bank Nifty Channel

daily chart

Close below its 200 DMA and now is heading towards gann 45 degree line which should hold for some relief rally.

Bank Nifty Harmonic

Daily Harmonic

Butterfly pattern completed, above 17800 bulls can move towards 18000/18200.

Bank Nifty EW Daily

BN Daily EW

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

 

Murry Math Line

MML

Took support at MML line, next price action will be interesting.

Bank Nifty Daily Gunner

Daily Gunner

On Daily chart near important Gunner resistance @1*2 line,close above it will lead to trend change

Bank Nifty Gann Dates

Nifty As per time analysis 08 June/10 June  is Gann Turn date , except a impulsive around this dates. Last week we gave 02 June/05 June Nifty saw a volatile move .

 

Fibonacci technique

Fibonacci Fans

Bank NIfty FF

 

Again held on to its 38.2 %  as per FF

Bank Nifty Weekly

Weekly AF

It was negative week, with the Bank Nifty down by 1172  points  closing @17549 , price again got rejected near its 20 WSMA and holding 50 WSMA and also AF line . We are in neutral to negative time cycle till 14 JUne.

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 61.8% retracement.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:17516

Bank Nifty Resistance:17646,17906,18036

Bank Nifty Support:17386,17256,17126

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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10 thoughts on “Bank Nifty form Bearish Engulfing ,Weekly Analysis

  1. Ram Ganesh

    Dear Bramesh Sir, I think the second support is 17256 and not 17356( I believe it is a typo error since S1 and S2 cannot be 30 points apart since S2 & S3 is 230 points apart)

  2. paromita das

    sir, pls suggest buy and sell levels in IDFC…I have huge trading losses in IDFC…i have bought futures @ 154…now the stock is at 145

  3. MANISH

    Hi Sir,
    As Bank nifty is in neutral to negative time cycle till 14 JUne, can u pls tell after that how much one can expect Bank nifty to move after 15th June and how much it can fall in this correction.

  4. Bramesh Post author

    Thanks its corrected to 8 June.

  5. Bramesh Post author

    Nope someone is copying the whole content.

  6. fan

    Seems bnf gann date playing out today..lets hope for the best 🙂

  7. Ram Ganesh

    Sir, I believe GANN Date is wong( It is shown as 7-Jun-2015 which is a Sunday)

  8. ravi

    sir please update nifty analysis for 8 june 2015

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