Bank Nifty Weekly Forecast for New Financial Year

By | April 2, 2017

Last Week we gave Chopad Level 21156 Bank Nifty  gave perfect short  entry chopad followers  and did 1 target on downside. Long triggered on Tuesday did all 3 target on upside thus rewarding disciplined Chopad followers . Lets Analyze how to trade Nifty as we are approach the New Financial Year. Trading Resolution for Financial Year 2017-18

Bank Nifty Hourly

 

As discussed in last analysis Bank Nifty  bounced from the lower end of channel suggesting 20750 will remain strong support and rally can extend towards 21500.  Below 20750 can fall till 20500/20300.

Low made 20979 and rallied till 21696, Coming week 21350 needs to be hold for a move till 21800/22000. Below 21350 fall till 21000/20870

Bank Nifty Harmonic Pattern

As discussed in last analysis Another important ABCD pattern is forming till 20750 is held we can see move towards 21600.

ABCD target done now bulls need to hold 21350 for a move till 21850/21890.

Supply and Demand Analysis

 

As discussed in last analysis Bulls now need to hold on  20870 weekly closing basis for the upmove to continue till 21500/21800/22000.

21500 done now waiting for 21800/22000 till we hold 21350.

Gann Angles

As discussed in last analysis  Bank Nifty bulls now need to hold 21000 and close above 21300 for a move till  21500/21800/22000.

21500 done now bulls need to hold 21300 for a move till 21800/22000

Bank Nifty Gann Dates

Bank Nifty As per time analysis 03 April is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 321 points  closing @21444 .As discussed in last analysis  Close above 21300 can see fast move towards 21500/21800. Support at 21000 break of which we can see move towards 20750/20500. Next time cycle start from 27 March till 04 April. Till 21000 is held cycle will remain positive. Break of 21000 can see move towards 20500 in this time cycle. High made 21696 so bulls did weekly target of 21500,Also low made on 27 March and rallied 600 points from that level. Now for coming week bulls need to hold 21320-21350 range for the upmove towards 21800/22000. Bears below 21300 can push bank nifty to 21000/20850.

Bank Nifty Monthly

Monthly chart needs to hold 20500, Bulls to continue have upperhand towards 22000

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:21500

Bank Nifty Resistance:21700,21850,22020

Bank Nifty Support:21350,20151,21000

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.

Want to see post in your Inbox,Register by adding your email id in Post in your Inbox section

Follow on Facebook during Market Hours:  https://www.facebook.com/pages/Brameshs-Tech/140117182685863

Follow on Twitter during Market Hours:  https://twitter.com/brahmesh

Leave a Reply