Bank Weekly Forecast before Fed Rate Hike Decision

Last week we gave the Chopad level of 16000 Bank  Nifty gave Buy opputunity @16000 for Chopad Followers and did all 3 targets by Tuesday thus rewarding Chopad Followers by 670 points. Important Events For Next Week – All eyes on Fed, BoJ and Greece and we also have trading Holiday on 17 Sep.  Lets analyze how to trade market in coming week.

Bank Nifty Hourly

Bank Nifty Hourly

 Bank Nifty hourly chart is in neutral mode as it closed around 21/34 EMA, also forming contracting triangle pattern whose targets are shown above.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

Resistance@ 225degree line and Support @315,bounced exactly at 315

Channel Analysis


Bank Nifty broke the channel bottom and bounced back sharply. Can see the high of 17000 if 16500 is held.

Bank Nifty Supply and Demand


 Bank Nifty if 15795 is held can see move till 17000/17211  which is next supply zone.

Bank Nifty Gann Dates

Bank Nifty As per time analysis  15 September/18 Sep  is Gann Turn date , except a impulsive around this dates. Last week we gave  08 September/10 Sep Bank Nifty saw a volatile move .

Bank Nifty Weekly

Weekly AF

It was positive week, with the Bank Nifty up by 434 points  closing @16612.As discussed last week Strong Support at 15750 which if broken can see bank nifty correcting till 15150 odd levels and if held can see move till 16500/16750. Bank Nifty oblized the same now crossing 16800 bank nifty is heading towards 17000/17211

BN Weekly Time Analysis

Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart bounced  38.2 @ around 15750/15600.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:16670

Bank Nifty Resistance:16800,17000,17211

Bank Nifty Support:16400,16200,15900



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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One Comment

  1. vishnu nayaka said:

    Thank you sir

    September 13, 2015

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