Bank Nifty Weekly Outlook for November Expiry

By | November 20, 2016

Last Week we gave Chopad Level 19810 Bank Nifty gave Long entry on Monday and did 3 target on Downside by Wednesday thus rewarding discipline chopad followers handsomely. Lets analyze how to trade bank nifty in coming  week as we approach November expiry.

Bank Nifty Hourly

bank-nifty-hourly

As discussed in last analysis  For coming week 19800 holds key above it another up move towards 20300/20800.Bearish below 19300 for a move towards 18750

For coming week bulls need an hourly close above 19000 for move towards 19500 unable to do so fall till 18750/18500.

Bank Nifty Harmonic Pattern

bank-nifty-harmonic

As discussed in last analysis For coming week 19800 holds key above it another up move towards 20300/20800.Bearish below 19300 for a move towards 18750

Holding low of 18800 and daily closing above 19000 can see move towards 19608.

Supply and Demand Analysis

weekly_sd

Close above 19858  is important for bulls and below 18751 for bears.

Gann Angles

bank-nifty-support

As per gann angles, bank nifty is near support area, and can see fast move of 500-600 points. Close above 19000 can see move towards 195000 and close below 18900 fast move towards 18400/18200.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 23/25 Nov  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 779 points  closing @18959 . Bank Nifty took resistance at upper end of AF line as discussed in last analysis for last 12 weeks, Bulls need  close above 19500 is important for bulls to march towards 20000/20220, support at 18500.

Bank Nifty Monthly

bank-nifty-monthly

Monthly chart finally saw correction after 6 Months of rise, bulls need to close above 19500 for momentum to come in their favor.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:19000

Bank Nifty Resistance:19239,19581,19860

Bank Nifty Support:18850,18700,18500

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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6 thoughts on “Bank Nifty Weekly Outlook for November Expiry

  1. Bramesh Post author

    If a trader has been trading successfully for at least 5 years and having capital more than 10 lakhs should trade in options as per my limited trading knowledge.

    Rgds,
    Bramesh

  2. Ganesh

    Sir do you suggest, working in BNF options.? how to spot opportunity.

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