Bank Nifty Weekly Forecast for 15-19 Jan

By | January 14, 2018

Last Week we gave Chopad Level 25650  Bank Nifty gave Long Entry as per Chopad Level on Monday as Low made was 25643 rewarded Chopad Followers as it did 1 Targets on upside, Also short got entry on Wednesday but made low of 25527 missing our target by 17 points so average week for Chopad followers. Bottom made for the week was exactly on Time Cycle Turn date of 11 Jan .Lets see How to trade  Nifty in coming week as we approach the earning season.

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 18/21 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 147 points  closing @25749. As discussed in last analysis  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.

Low made on time cycle date of 11 Jan and zoomed up and also held on to our price level of 25510. Bulls need to hold 25600 level for a breakout to sustain for a move towards 25920/26100. Bearish below 25500 for a move towards 25250/25000.

Bank Nifty Monthly

Bank Nifty Bulls held to 25500 on Monthly and Yearly closing basis. Holding the same we are heading towards 26700.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:25801

Bank Nifty Resistance:25952,26135,26300

Bank Nifty Support:25680,25530,25300

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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