Bank Nifty formed second Hanging man,Weekly Forecast

Last Week we gave Chopad Level 19054  Bank Nifty gave Short entry on Monday  which did 3 target on downside, Low made was 18537 near our final target of 18550 . Lets analyze how to trade in coming week.Lets analyze How to trade in coming week.

Bank Nifty Hourly

Bank Nifty Hourly

 As discussed in last Analysis

Coming week 18550-500 range which is middle line line of channel, holding the same we can see bounceback towards 19000. Break of 18500 can see move towards 18264. Bank Nifty did not close below 18500 and saw pullback on Friday

Coming Week break of 19000 can again seen move towards higher end of channel at 19500.

Bank Nifty Harmonic

Bank Nifty Harmonic

Holding 18700 Bank Nifty is heading towards 19332/19600 as per Butterfly pattern.

Gann Angles

Gann Angles

  Coming week Bullish on close above 19000 for target of 19230/19500. Bearish on close below 18490 for move towards 18280/18070.


Bank Nifty Supply and Demand


Bulls need to hold above 18768  for next move towards 19229/19500. Bearish below 18750 for 18150/17910.

Bank Nifty Gann Dates

Bank Nifty As per time analysis  16/18 Aug  is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

Weekly AF

It was positive week, with the Bank Nifty up by 37 points  closing @18963 closed above the upper end of the AF line, As discussed in last analysis  . weekly close above 19000 for move till 19580/19888

Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart support at 38.2 % fibo ratio and resistance at 23.6%

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:19054

Bank Nifty Resistance:19150,19331,19500

Bank Nifty Support:18900,18750,18550

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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