Bank Nifty Weekly Analysis for 29 Aug -02 Sep

Last Week we gave Chopad Level 19500  Bank Nifty gave Short entry on Monday  which did 2 target on downside, High made was 19494 near our Chopad level of 19500 and unable to close above it through out the week. Lets analyze how to trade in coming week as we approach August Month Closing.


Bank Nifty Hourly

Bank Nifty Hourly

As discussed in last analysis Close above 19500 can move towards 19766/20000.

High made was 19494 so Bulls were unable to break 19500, bears were unable to break 19166 the breakout zone. Holding 19166 Bank Nifty can move towards 19500. Unable to hold 19000 can see correction till 18800/18550.

Bank Nifty Harmonic

Daily Harmonic

Holding 19133 bank nifty can move towards 19525 as per SHARK pattern.


Gann Angles

Gann Angles

As discussed in last analysis 19230 done now waiting for 19500 to be done, close above 19500 as per gann angles and lead to 20500/21000 in bank nifty.

19494 was high, Bulls was not able to high 19500, Unable to break 19500 bank nifty can move towards 19000/18750 range.Bullish only on close above 19500.



Bank Nifty Gann Dates

Bank Nifty As per time analysis  29/30 Aug  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 219 points  closing @19195  closed above the upper end of the AF line, Holding the same the bullish move will continue.

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:19275

Bank Nifty Resistance:19400,19550,19700

Bank Nifty Support:19040,18920,18700

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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  1. Bramesh said:

    Few Questions.

    1. Why u purchased the Option
    2. What was IV ,Delta, Vega
    3. What was tgt and SL

    August 29, 2016
  2. dany said:

    sir i am holding 1st sep 19200 CE at 110… 400 quantity

    August 29, 2016
  3. Bramesh said:

    Correction will not come till we see big blow off rally..

    August 29, 2016
  4. Bramesh said:

    Thanks corrected…

    August 29, 2016
  5. Dinesh said:

    Is there any mistake in below statement? Is 19550 mentioned correct target?

    “Unable to hold 19000 can see correction till 19800/19550.”

    August 28, 2016
  6. Thanks for the terrific analysis. On fundamentals alone market is overvalued sporting a p/e in excess of 23 on the Nifty. Just a matter of time before we get a sharp sell off.

    August 28, 2016

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