Bank Nifty Weekly Forecast for RBI Policy Week

By | February 4, 2018

Last Week we gave Chopad Level 27555 Bank Nifty gave Long Entry as per Chopad Level on Monday got stopped out and Shorts were triggered another opportunity came on Budget day and did all 3 target on downside, Awesome week for Chopad followers. Also Bank Nifty made the High of 27652 on 29 Jan on our time cycle date. Let see how Nifty behaves on another minor time cycle date 05 Feb.

 

Bank Nifty Harmonic Pattern

No Harmonic Pattern Visible for the coming week.

Supply and Demand Analysis

 

Self Explanatory chart..

Gann Angles

As discussed in Last analysis now close above 27672 can see a fast rally towards 28452/29565.

High made last week was 27652 so bulls were not able to cross 27672 and the big fall happened, Again great move caught by Gann Angles.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 05 Feb/09 Feb is Pressure date , impulsive move can be seen around these dates.

Bank Nifty Weekly

It was negative week, with the Bank Nifty down by 994 points  closing @26451. As discussed in Last analysis  Now bulls need a close above 27555 for a move towards 28000/28464. Bearish below 27151 for a move towards 26963/26666

Bearish bet paid off below 27151. For coming week Bulls should protect 26134-26150 range for the fall to stop. Below 26000 we can see fall extending towards 25591/25425.

Bank Nifty Monthly

 

Monthly bulls need a close above 26000 for the bull rally to continue.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:26280

Bank Nifty Support :26150,25920,25776

Bank Nifty Resistance :26496,26666,26800

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.

Want to see post in your Inbox,Register by adding your email id in Post in your Inbox section

Follow on Facebook during Market Hours:  https://www.facebook.com/pages/Brameshs-Tech/140117182685863

Follow on Twitter during Market Hours:  https://twitter.com/brahmesh

Leave a Reply