Bank Nifty Weekly Forecast for 15-19 Oct

By | October 14, 2018

Last Week we gave Chopad level of 25250Bank Nifty gave Long entry on Monday and did all 3 target on Upside , so excellent week for chopad followers. Lets see how we trade bank nifty in coming week as we approach important time cycle date of 14 Oct.

Bank Nifty Harmonic Pattern

No Valid Harmonic Pattern Observed.

 

 

Supply and Demand Analysis

 

Self Explanatory chart. 25901 very important level to watch out in coming week above 25525.

Planetary Cycles and Bank Nifty Movements

As discussed in last AnalysisBulls need to protect 24100 for the fall to stop, else we can see fall towards 23500/23333/23000. Bullish above 24500 for a move back to 24800/25050. 09 Oct Important trend change date.

Bulls protected 24100 and once above 24500 closed above that before the big gap up on Friday and we were able to ride whole rally, Now Bulls need to hold 25366 for coming week for the rally to continue towards 25700/25920/26050. Bearish below 25300 for the move towards 25125/24920/24784/24555. 17 Oct very important trend change date.

Gann Angles

Bounced from gann angle.

 

Bank Nifty Gann Dates

Bank Nifty As per time analysis 15/17 Oct is Pressure date , impulsive move can be seen around these dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 952 points  closing @25935. As discussed in last Analysis Bulls need to protect 24100 for the fall to stop, else we can see fall towards 23500/23333/23000. Bullish above 24500 for a move back to 24800/25050. 09 Oct Important trend change date.

Bulls protected 24100 and once above 24500 closed above that before the big gap up on Friday and we were able to ride whole rally, Now Bulls need to hold 25366 for coming week for the rally to continue towards 25700/25920/26050. Bearish below 25300 for the move towards 25125/24920/24784/24555. 17 Oct very important trend change date.

Bank Nifty Monthly

 

As discussed in last Analysis If we close below 24100 we can see fall towards 23500-23300. Bullish on close above 24500 for a move back to 24800/25050.

Low made last week was 24240 and rallied, For Oct month 24900 will play crucial role.Any close below it can see downfall towards 24500/24100.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:25488

Bank Nifty Resistance:25656,25784,25920

Bank Nifty Support:25350,25125,24920

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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