Bank Nifty Weekly Forecast for 12-16 June

By | June 11, 2017

Last Week we gave Chopad Level 23410  Bank Nifty gave Long on Monday  which did 2 Chopad Target by Friday thus rewarding disciplined Chopad  Traders, so whipsaw we saw last week were duly handled were last week Chopad Levels.  Lets see how to trade in coming week.

Bank Nifty Hourly

 

As discussed in last analysis  Coming Week  As we have RBI Policy Holding 23300 we can scale towards 23762/24058. Bearish below 23300 for a move towards 23000/22800.

Low made 23349 so bulls protected 23300 and rallied towards 23700. Now coming week 23470-23500 should be held for next upmove towards 23900/24120. Bearish below 23450 for a move towards 23300.

Bank Nifty Harmonic Pattern

 

Holding 23470-23500 we can march towards 24058

Supply and Demand Analysis

 

Bulls should hold 23500-23460 range for the next round of upmove.

Gann Angles

 

As discussed in last analysis  bulls need to hold 23000 for a move till 23484/24000.

23710 done now waiting for 23762 and 24100.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 12/16 June is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was Positive week, with the Bank Nifty up by 315 points  closing @23690 closing above upper end of quadrant .As discussed in last analysis  As per time cycle Low made on 01 June 23224 is very important holding the same we can scale towards 23762/24111 till 08-09 June.

Low made last week was 23349 so Bulls protected the Cycle low of 23224 and saw move towards 23710. Now as per new time cycle low of 23476 is important holding the same we can see next upmove towards 23900/24120. Bearish below 23470 for a move towards 23300.

Bank Nifty Monthly

High made was 23708 now holding 23000 we can see move till 24144.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:23710

Bank Nifty Resistance:23820,23930,24120

Bank Nifty Support:23610,23580,23400

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 thought on “Bank Nifty Weekly Forecast for 12-16 June

  1. ambrish09

    Typo error: Bank Nifty Harmonic Pattern:” Holding 234700-23500 we can march towards 24058″

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