Bank Nifty Weekly Forecast for 08-12 Jan

By | January 7, 2018

Last Week we gave Chopad Level 25555  Bank Nifty gave Short Entry as per Chopad Level on Monday as High made was 25588 rewarded Chopad Followers as it did 1 Targets on downside so average week for Chopad followers. Top made for the week was exactly on Time Cycle Turn date of 01 Jan .Lets see How to trade  Nifty in coming week as we approach new Life high and also important time cycle date of 11 Jan.

Bank Nifty Yearly Technical Outlook and Time Cycle Dates for 2018

Bank Nifty Harmonic Pattern

 

We are forming a bullish ABCD pattern with PRZ zone coming around 26779, Bulls need to continue holding 25555 for a move towards for 25780/25920/26300/26779.

 

 

Supply and Demand Analysis

 

Self Explanatory chart..

Gann Angles

As per gann angle Break of 25600 for a move towards higher end of gann angle at 25920/26500.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 08/11 Jan is Turn date , impulsive move can be seen around these dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 109 points  closing @62. As discussed in last analysis   Coming week 01/03 Jan is important time cycle turn date. Bulls need a close above 25555 for a breakout for a move towards 25780/25920. Bearish below 25400 for a move towards 25250/25000.

25400 was broken and bears did 25250, High made of last week was 25643 so 25555 was broken on weekly closing basis bullish sign. Coming week 11  Jan is important time cycle turn date. Bulls need to hold 25510 level for a breakout to sustain for a move towards 25800/25920/26100. Bearish below 25250 for a move towards 25000/24750.

Bank Nifty Monthly

Bank Nifty Bulls held to 25000 on Monthly and Yearly closing basis. 25000 will play crucial role in Jan month.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:25650

Bank Nifty Resistance:25752,25920,26100

Bank Nifty Support:25510,25250,25000

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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