Bank Nifty Hourly
Bank Nifty on hourly chart is trading in a perfect down trending channel. close above of 9846 on hourly basis the relief rally can start else we can going sub 9400 levels.
Bank Nifty Daily
Bank Nifty is trading at multi year low and has broken each and every support on downside.Technical chart have been totally decimated and all relief rallies are getting sold into. Only good news for Bulls is Bank Nifty is trying to maintain the lower end of down trending channel as shown in below chart. Holding the same for next 2 days moving above Bank Nifty choapd levels relief rally can be seen.
Bank Nifty Fibo Fans
Fibo Fans has been applied on Bank Nifty weekly charts and is near the resistance of 9716.
Bank Nifty Fibo Retracement
Bank Nifty has taken support at 78.6% retracement at 8860 and bounced back. Holding the same bounceback till 9889 can be seen,Unable to hold the 8860 BN can fall till 8000 odd levels.
Bank Nifty Weekly
Bank Nifty on WoW basis was up by 19 points and closed @9470, Bank Nifty has formed a DOJI candlestick formation on weekly charts suggesting pause in current downtrend.
Bank Nifty Monthly
Monthly charts has bounced exactly from the monthly support area as shown in above chart. HOlding 8860 bounceback to continue.
Bank Nifty Trading Levels
Bank Nifty Trend Deciding Level:9456
Bank Nifty Resistance:9586,9716 and 9976
Bank Nifty Support:9326,9066,8806
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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