Bank Nifty Weekly Chart Analysis

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty has been facing resistance at 50 Hourly SMA @12585.Holding 12361 upmove till 12585 can be seen.


Bank Nifty Daily

Bank Nifty Daily

Bank Nifty has broken the up trending channel and took support at upper gap area of 12363, Holding 12363 one more attempt to cross and close above 1283 will be made failure to do so we will see pullback rally 12000 .


Bank Nifty Fibo Fans

Bank NIfty FF

Fibo Fans has been applied on Bank Nifty weekly charts and its show 12780  emerging as resistance,BN made high of 12783 and pulled back 🙂 Support at per Fibo Fans comes at 12000.

Bank Nifty Fibo Retracement

Bank NIfty FR

78.6% retracement of current upmove from 10900-12755 comes at 12357 took support at that levels  and Golden ratio 61.8% comes at 12042 is the next level of defense for bulls.


Bank Nifty Weekly

Bank Nifty Weekly

Bank Nifty weekly charts formed shooting star candlestick formation which is a potential reversal pattern which needs confirmation with trade below 12363.


Bank Nifty Monthly

Bank Nifty Monthly

Monthly charts are approaching the long term trendline and made another attempt to touch the trendline @12783 . Pull back till 12000 can be expected in BN

 Bank Nifty Trading Levels

Bank Nifty Trend Deciding Level:12363

Bank Nifty Resistance:12500,12585 and 12680

Bank Nifty Support:12288,12200 and 12095

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

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1 thought on “Bank Nifty Weekly Chart Analysis”

  1. Dear Bramesh,

    I think Fibo% should be read the other way. 61.8% of last rise from 10889 to 12755 is 11609.

    Fibo% are in reverse order.


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