Bank Nifty Forms Hammer on Weekly Time Frame, Weekly Analysis

Last week we gave the Chopad level of 17850 Bank  Nifty opened with Huge gap down and did not give any opputunity for Chopad Followers to take entry. Lets analyze how to trade market in coming week.


Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty as per Gann Wedge and Arc high of 17600 should be broken for further upmove and break of 17200 can push towards 16800/16600.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

Resistance@ 180 degree line and Support @225

MML Analysis


Bank NIfty needs to close above 17500 for short term bullishness


Bank Nifty Supply and Demand


 Bank Nifty rotated between Supply and Demand zone and rewarding traders who shorted at Demand zone and bought back at supply zone. Self Explanatory chart shown above.

Bank Nifty Gann Dates

Bank Nifty As per time analysis  31 August/04 September  is Gann Turn date , except a impulsive around this dates. Last week we gave  24 August/27 August  Nifty saw a volatile move .


Bank Nifty Weekly

Weekly AF

It was negative week, with the Bank Nifty down  by 845 points  closing @17211  forming hammer candlestick pattern . Resistance at median of AF line @17500.

BN Weekly Time Analysis

Bank Nifty Monthly

Bank Nifty Monthly

Again  Monthly unable to cross Breakout level now near breakdown level.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:17220

Bank Nifty Resistance:17450,17650,17900

Bank Nifty Support:17100,16800,16670


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. Abhinav said:

    Fiis have sold 19230 crores in cash in aug… last time and only time fiis had sold more than 20000 crores was in january 2008. Be cautious be prepared and as bramesh sir says… backtest your moves

    August 31, 2015
  2. Senthilraja said:

    Buy Bank nifty 19000 Call at 50 Tg1 : 195 Tg2: 235, SL 35

    August 30, 2015

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