Bank Nifty Weekly Forecast for 04-08 Sep

By | September 3, 2017

Last Week we gave Chopad Level 24336 Bank Nifty gave Long Entry on Monday, Stop out on Tuesday and short taken on Tuesday got 1 target on downside,Wednesday was again choppy day and got stopped out on Longs,so bad  week for Chopad followers.Lets see How to trade Bank Nifty in coming week.

 

Bank Nifty Hourly

 

Bank Nifty bulls need to trade above 24510 for uptrend to continue till 24800/25000. Bearish below 24200 for a move towards 23950/23755

 

Bank Nifty Harmonic Pattern

BAT Pattern target till 25000 holding 24200.

 

 

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 23800 and bounce from that. Perfect trade in between gann angles. Above 24480 again a move towards 25000, Below 24200 move towards 23800/23500.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 04/08 Sep  Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 150 points  closing @24434 closing below  the AF line, Bulls need a close above 24510 for a move towards 24820/25000. Bearish below 24200 for a move towards 23950/23755/23540/23255/23000.

Bank Nifty Monthly

Now bears need close below 24000 for next move towards 23500/23000. Bullish above 24470 for a move towards 25000/25300.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:24480

Bank Nifty Resistance:24580,24720,24950

Bank Nifty Support:24340,24200,24000

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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4 thoughts on “Bank Nifty Weekly Forecast for 04-08 Sep

  1. Bramesh Post author

    WHy not you focus on increasing your knowledge to understand many dimensions

  2. Devendra Singhal

    You are a very competent analyst but giving so many dimensions to analysis makes it confusing to act. Why not simple two liners ?

  3. Rajesh Panjwani

    Bank nifty hourly chart is bearish below 24200 or 24000?
    You have given targets of 24150/23950..
    You have mentioned 24000..
    Is this a typing error?

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