Bank Nifty near Pyrapoint Breakout,Weekly Forecast

Last week we gave the Chopad level of 18720  Bank Nifty opened with gap down and show a swift recovery from the lows and gave a long entry to Chopad followers  and did 2 target on upside. Lets analyze how to trade market in coming week as we have many index heavyweight declaring results.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty need to sustain 19000 level for to continue in uptrend as per classic TA resistance should act as support now.

Bank Nifty Hourly  EW

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown, 19250  will play crucial levels next week.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

Bank NIfty has been trading in the range of 135 and 90 degree pyrapoint angle, 90 degree has proved to be an elusive resistance from past 2 months.Bank Nifty is on verge of breaking 90 degree line will it be a genuine breakout ?

Supply Demand Zone


Demand and supply zones are shown above,Entered the supply zone, will it be able to cross ?

Bank Nifty Murry Math Line


Bank Nifty is heading towards crucial bank nifty MML pivot of 20000  which again has acted strong resistance for quiet some time as shown in above chart, Bulls needs to make sure 18755 is protected going forward.

Gann Box

Gann Box

As per gann box holding 50% green line should be held and cross of 1x 2  from move towards 19500/19800.

Bank Nifty EW Daily

BN Daily EW

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

Who bought banking stocks should have been rewarded handsomely, profit booking is always advised.


Bank Nifty Daily Gunner

Daily Gunner

Crossed  1×2 gann line heading towards horizontal line quadrant.

Bank Nifty Gann Dates

Bank Nifty As per time analysis  20/24 July is Gann Turn date , except a impulsive around this dates. Last week we gave   14 July Nifty saw a volatile move .


Fibonacci technique

Gann Fans

Gann Fan



Bank NIfty FR

61.8% retracement @19255 also gann 4×1 line so zone should be closely watched for further price action.

Bank Nifty Weekly

Weekly AF

It was positive week, with the Bank Nifty up by 374 points  closing @19094 , price again held its 55 WSMA able to cross 20WSMA and median of  AF line. Holding the same it can move to 19500 zone target as per AF. Time Analysis of showing positive move after 14 June worked perfectly as bank nifty has never seen a red weekly closely.

BN Weekly Time Analysis

Bank Nifty Weekly  Gunner

Weekly Gunner

Weekly gunner 19300 and green arc needs to be crossed if not will see pullback towards horizontal grey  line

Bank Nifty Monthly

Bank Nifty Monthly

This is what we have been discussing Monthly chart after 2 Month of hammer candlestick, has started the July month of bullish note till 18260  not broken bias is bullish.

Hope traders got rewarded. Now Monthly are near Breakout level, if we crossed and sustained above 19300 we can see big moves in bank nifty.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:19076

Bank Nifty Resistance:19206,19336,19466

Bank Nifty Support:18946,18816,18686


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. zabirkhan said:

    Thank you Master

    July 20, 2015
  2. vishnu said:

    Thank you sir

    July 19, 2015

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