RBI’s Policy impacts on Bank Nifty,Weekly Analysis

By | November 27, 2016

Last Week we gave Chopad Level 19000 Bank Nifty gave Short entry on Monday and did 3 target on Downside by Monday thus rewarding discipline chopad followers handsomely. Lets analyze how to trade bank nifty in coming  week as RBI increased CRR rate by 100 BPS

Bank Nifty Hourly

bank-nifty-hourly

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

18500 done and now for coming week Bulls need a close above 18550 for next move towards 18750/19000. Bears will be active below 18200 only for a move towards 18000/17800.

Bank Nifty Harmonic Pattern

bank-nifty-harmonic

As discussed in last analysis Holding low of 18800 and daily closing above 19000 can see move towards 19608.

Harmonic pattern failed as Bank Nifty broke the low of 18800, now for coming week 18250-18300 is important if held in correction can see upmove till 19000.

Supply and Demand Analysis

weekly_sd

Holding  18322  is important for bulls for 18754/19000.

Gann Angles

gann-angles

As per gann angles, bank nifty again bounced from support area as show in above chart, Closing above 18600 we can see move towards 19000/19500.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 28/30 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 451 points  closing @18507 . Bank Nifty took resistance at upper end of AF line as discussed in last analysis for last 12 weeks, and finally corrected till lower end of AF and bounced form the support zone. Holding the support zone bank nifty can bounce to upper end near 19400.

Bank Nifty Monthly

bank-nifty-monthly

Monthly chart finally saw correction after 6 Months of rise, bulls need to close above 18250 for bullish momentum to come in their favor.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:18440

Bank Nifty Resistance:18590,18752,18980

Bank Nifty Support:18250,18100,17900

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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3 thoughts on “RBI’s Policy impacts on Bank Nifty,Weekly Analysis

  1. Shankar

    It is not 100 bps, it is incremental 100% on deposits received during few days. Pls correct.

  2. pratheesh

    dear brands,
    what z impact of 100 points CRR hike?is it negative or positive actually..?sell of expected?

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