Bank Nifty Weekly Outlook and Trend for September Expiry

Last Week we gave Chopad Level 19800  Bank Nifty Longs got triggered on Tuesday did the 1  target on upside ,  Lets analyze how to trade bank nifty in coming  week.

Bank Nifty Hourly


On Hourly chart bulls need to held 19750-19700 zone,holding the same bulls can 20000/20250. Bears below 19650 can see sharp pullback of 300-400 points.

Bank Nifty Harmonic Pattern


Bearish Gartley pattern formed, unable to close above 20000 can see correction till 19400.

Supply and Demand Analysis


Bulls need to hold 19650 in correction  for a move towards all time high of 20907.

Gann Angles


As discussed in last analysis 19919 was high, Bulls were able to break 19500, Holding 19500 can see move towards 20500/20800/21000.

Bank Nifty has support is zone of 19650-19700 as seen in above gann angles chart.

Bank Nifty Gann Dates

Bank Nifty As per time analysis  25/30 Sep  is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly


It was positive week, with the Bank Nifty up by 46 points  closing @19901  forming gravestone doji  pattern . Bank Nifty took resistance at upper end of AF line as discussed in last analysis for last 2 weeks, Bulls need  close above 20155 is important for bulls to march towards new high support at 19750 and 19500.

Bank Nifty Monthly


Monthly chart crossed  fibo ratio  at 23.6% after 6 months of rise. Holding 19500 can see move towards all time high.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:19975

Bank Nifty Resistance:20145,20300,20550

Bank Nifty Support:19700,19450,19300

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. Guru said:

    Bank Nifty Gann Dates – how to calculate these gann dates

    September 27, 2016

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