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