Bank Nifty Weekly Analysis for November Expiry

Last week we gave the Chopad level of 16840 Bank Nifty gave long entry on Monday opening and achieved 3 target on upside on the same day,Lets analyze how to trade market in coming week.


Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty trading in contracting triangle with range bound moves suggesting big move is round the corner. Break above 17300 can see move towards 17500/17600. Break below 16800 can see another move towards 16500.


Bank Nifty Harmonic

Bank Nifty Harmonic

As discussed last week Bank Nifty made low of 16587 and bounced back, till 16587 not broken its buy on dips.

If 16986 not broken can see move towards 16576 as per CRAB pattern.

Gann Angles

Gann Angles

Gann Angles with medium term view is shown above, gann angles trading in a small range can see fask breakout or breakdown

Bank Nifty Supply and Demand


Self Explanatory Chart

Bank Nifty Gann Dates

Bank Nifty As per time analysis  24/27 Nov  is Gann Turn date , except a impulsive around this dates. Last week we gave  16/20 Nov Bank Nifty saw a volatile move .

Fibonacci technique

 Fibo Retracement

Bank NIfty FR

Fibo levels to be watched in coming week, 17150/17485/17594

Bank Nifty Weekly

Weekly AF

It was positive week, with the Bank Nifty up by 122 points  closing @17055  also unable to close above its 20/50 WSMA,for coming week. Bank Nifty took support at median level of AF line from past 2 weeks and holding the same heading towards the upper end again.

BN Weekly Time Analysis

Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart unable to close above  @ 61.8  and unable to break 50%  suggesting all rallies are sold into.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:17050

Bank Nifty Resistance:17160,17288,17576

Bank Nifty Support:16950,16790,16533

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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