Bank Nifty trading strategy for the second week of 2014

Last week we gave trend changer level of 11406 and Bank Nifty almost did the 3 target on downside.Lets analyze how to trade Bank Nifty in coming week.

Bank Nifty Hourly

Bank Nifty Hourly
Bank Nifty hourly charts is forming a range contraction,breakdown below 11016 for initial target of 10880.

Bank Nifty Daily

Bank Nifty Daily

Bank Nifty on daily chart is near its trendline support and also its 200 DMA. Breaking the same Bank nifty can go down all the way upto 10500.

Fibonacci technique

Fibonacci fan

Bank NIfty FF

Bank Nifty Fibonacci fan are wonderful tool to find the top and bottom in short term.Support at 10700-10670. Resistance at 11321.

Bank NIfty FR

Fibo Retracement also signalling support @11236

Bank Nifty Weekly

Bank Nifty Weekly

Bank Nifty is broken its trendline support which is bearish in short term. Breakdown below 11016 for target of 10800-10666 in short term.Bounce back only on close above 11208 for 11500-11600

Bank Nifty Monthly

Bank Nifty Monthly

 Bank Nifty Trading Levels

Bank Nifty Trend Deciding Level:11146

Bank Nifty Resistance:11276,1140611536 and 11666

Bank Nifty Support:11016,10886,10756 and 10626

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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