Bank Nifty Weekly Forecast for 16-20 Nov

Last week we gave the Chopad level of 16650 Bank  Nifty gave long entry on Monday opening and achieved 2 target on upside, and was unable to close below chopad level of 16650 on single trading session.  Lets analyze how to trade market in coming week.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty trading below 21/34 EMA , demand zone in range of 16750/16800 below that fast fall towards 16500/16250.

Bank Nifty Channel


Bank Nifty unable to close above 17950 so started retracing back without touching the channel top below 16580 heading towards 16200.

Bank Nifty Harmonic

Bank Nifty Harmonic

As discussed last week Shark harmonic pattern gets completed at 16622.

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

Gann Angles

BANKNIFTY - Pyrapoint

Gann Angles with medium term view is shown above, till 225 degree angle is not broken high probablity of bank nifty heading towards 16300/16200.

Bank Nifty Supply and Demand


Self Explanatory Chart

Bank Nifty Gann Dates

Bank Nifty As per time analysis  16/20 Nov  is Gann Turn date , except a impulsive around this dates. Last week we gave  09 Nov Bank Nifty saw a volatile move .

Fibonacci technique

 Fibo Retracement

Bank NIfty FR

Fibo levels to be watched in coming week, 16578/16890/17084

Bank Nifty Weekly

Weekly AF

It was negative week, with the Bank Nifty down by 153 points  closing @16932  also unable to close above its 20/50 WSMA,for coming week. Bank Nifty took support at median level of AF line 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:16840

Bank Nifty Resistance:16950,17069,17200

Bank Nifty Support:16700,16587,16381

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. Priya said:

    Seasons Greetings to you , your family and friends. Your education of mind , matter and maths makes trading a harmony. Learnt so much from your technical analysis. Discipline and determination is one gift that keeps on giving.
    Brameshji, Regards, Prayers and Happy Tidings.

    November 15, 2015

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