Bank Nifty Weekly Analysis for RBI Policy Week

Last week we gave the Chopad level of 17170 Bank  Nifty gave Buy opputunity @17170 for Chopad Followers and did all 2 targets on Upside and again gave Shoring Opportunity did 2 target on downside thus rewarding Chopad Followers by 800 points. Lets analyze how to trade market in coming week where we have RBI policy on 29 Sep.

Bank Nifty Hourly

Bank Nifty Hourly

 Bank Nifty hourly chart is again forming triangle height being 912 points, target prices are mentioned in above chart for both breakout and breakdown.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

Resistance@ 180 degree line and Support @225 ,pyrapoint also suggests big move is round the corner.

Gann Box Analysis

Gann Box

Bank Nifty needs to wait for 2×1 gann line breaking the same not good sign for bulls.

Bank Nifty Supply and Demand


Bank Nifty 17060 is important level to watch breaking the same bank nifty will move towards 16800/16500/16300 in short term.Breaking above 17589 can see mvoe towards 17820 and 18050 in short term

Bank Nifty Gann Dates

Bank Nifty As per time analysis  30Sep is Gann Turn date , except a impulsive around this dates. Last week we gave  21 September/24 Sep Bank Nifty saw a volatile move .

Fibonacci technique

Fibonacci Retracement

Bank NIfty FR

Fibo Fans

Bank NIfty FF

Unable to cross 61.8 % fibo fans not a good sign for bulls

Bank Nifty Weekly

Weekly AF

It was negative week, with the Bank Nifty down by 212 points  closing @17196 . For coming week as AF median line is getting resisted unable to cross the same bank nifty will head towards 16800/16500 in short term.Holding the same 17800/18050 on cards.

BN Weekly Time Analysis

Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart get resisted @ 61.8 @ around 17600

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:17220

Bank Nifty Resistance:17500,17640,17900

Bank Nifty Support:17000,16750,16500



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. Tarun_ghosh said:

    Bramesh, we need to buy above or sell below the trend deciding (chopad) levels….. in case u are long then targets are the R1, R2 and R3 and vice versa…. what should be the SL levels for the trade, like is a fixed level or S1 should be the SL in case ur long ?

    September 28, 2015

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