Bank Nifty close below 16500,Weekly Forecast

Last Week we gave Chopad Level 16650 Bank Nifty gave Long/Short  entry on Monday and did all 2 target on upside and 1 target on downside thus rewarding discipline chopad followers by 350 points. Lets analyses how to trade Bank nifty in coming expiry week.

Bank Nifty Hourly

gann circle


 Coming week, break of 16500 can see move towards 16245/16100. Bullish only above 16792 for 17000/17200.

Bank Nifty Harmonic

Daily Harmonic


Coming Week  break of 16400 we will see 16245/16104.

Gann Angles

gann angles

As discussed last week Beauty of Gann  Angle again  Bank Nifty reacted from gann angle line, as shown above till its not crossed bulls will remain on back foot.  Bears will be active below 16188 only, Between the range time correction. So both bulls and bears got fired in time correction.

Bank Nifty Supply and Demand


As discussed last week  Holding 16471-16500 move towards 17000 else 16188/16000 on cards.

High made 17000, Coming week unable to close above 16471/16500 can see move towards 16188/16000. Close above 16500 Tgt 16793/17000.

Bank Nifty Gann Dates

Bank Nifty As per time analysis  24/26 May is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

Weekly AF

It was negative week, with the Bank Nifty down by 235 points  closing @16481 closed above the upper end of the AF line, As discussed last week Now for coming week 16471-500 will play crucial role, holding it move towards 17000 and below it 16188 is again on cards.

High made was 16903 and retraced back, Now for coming week close below 16431 can see bank nifty move towards 16188/16000. Close above 16500 can move towards 16792/17000.

Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart forming INSIDE CANDLE till now and fighting for 50% fibo ratio.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:16610

Bank Nifty Resistance:16760,16910,17077

Bank Nifty Support:16450,16310,16188

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. lalit said:

    how to trade on chopad levels sir
    lets say wen banknifty closed 100 points above trend decident level then also we can buy

    May 22, 2016

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