Bank Nifty Weekly Analysis for October Expiry

Last week we gave the Chopad level of 17950 Bank  Nifty gave short entry made low of 17565 achieved 2 target on downside  Lets analyze how to trade market in coming week as we have October expiry.


Bank Nifty Hourly

Bank Nifty Hourly

 Bank Nifty hourly chart faced multiple resistance @17950, close above 17950 can see move towards 18084/18144 in short term, Support at 17850/17780.

Bank Nifty Channel


Bank Nifty is heading towards higher end of channel if closed above 18050/18144 towards 18315

Gann Box Analysis

Gann Box

Bank Nifty broke out of 1×1 line and heading towards 2×1 line @18050/18150.

Bank Nifty Supply and Demand


Bank Nifty 17950  is important level to watch breaking the same bank nifty will move towards 18019/18144 in short term.Breaking below 17652 can see move towards 17565 and 17450 in short term. As shown in above chart gann swing point are in range of 18084/18144 so this zone needs to be watched cautiously.

Bank Nifty Gann Dates

Bank Nifty As per time analysis  28 Oct  is Gann Turn date , except a impulsive around this dates. Last week we gave  23 Oct  Bank Nifty saw a volatile move .

Fibonacci technique

 Fibo Fans

Bank NIfty FF

Fibo Fans @61.8% retracement is where bank nifty is stalling.

Bank Nifty Weekly

Weekly AF

It was positive week, with the Bank Nifty up by 21 points  closing @17934 forming hanging man candlestick   also unable to close above its 20/50 WSMA,for coming week 17950 will play crucial role closing above it can move towards 18092/18144, Unable to close above it Bank nifty can move towards 17652/17450.New time cycle started on muted note.

BN Weekly Time Analysis

Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart broke @ 61.8 @ around 17600, need to see the sustenance above it.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:18000

Bank Nifty Resistance:18080,18240,18410

Bank Nifty Support:17820,17680,17535


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. shankar said:

    Super analysis ji. Will watch bnf movement in 18000 zone..

    October 25, 2015

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