Bank Nifty Weekly Forecast for 16-18 Aug

By | August 15, 2017

Last Week we gave Chopad Level 24850 Bank Nifty gave Long Entry on Monday got stopped out, short on Tuesday did the Third  target by Thursday ,so good week for Chopad followers.Lets see How to trade Bank Nifty in coming week.

 

Bank Nifty Hourly

 

Bank Nifty bulls need to hold 24100 for uptrend to continue till 24300/24500. Bearish below 2400o for a move towards 23800/23500.

 

Bank Nifty Harmonic Pattern

 

If Bank Nifty hold 23800 for 1 week we can see fast move towards 25500/26000.

 

Supply and Demand Analysis

 

Self Explanatory chart..

Gann Angles

Bank nifty corrected from gann angle resistance as shown in above chart and now gann angle support at 23600.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 17 Aug is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was negative week, with the Bank Nifty down by 841 points  closing @23985 closing below  the AF line, Bulls need a close above 24150 for a move towards 24500. Bearish below 24000 for a move towards 23610.

Bank Nifty Monthly

Now bears need close below 24000 for next move towards 23500/23000. Bullish above 24300 for a move towards 25000.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:24100

Bank Nifty Resistance:24200,24372,24532

Bank Nifty Support:24000,23820,24600

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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