Last week we gave Nifty Chopad level of 16220 and Bank Nifty did 3 target on downside. Lets analyze how to trade in September Expiry Week.
Bank Nifty Hourly
Bank Nifty hourly charts is near its downward falling trendline support break of 16000 can see a downmove till 15750. Else new high is coming again holding 16000
Bank Nifty Hourly Elliot Wave
Bank Nifty hourly EW is shown as above.
Bank Nifty Daily
Bank Nifty daily is near its trendline resistance on daily chart 16450-16500 is the supply zone as per trendline analysis.
Bank Nifty Daily EW
Bank Nifty is still trading in its 3 wave as shown in above chart and dips till 15800-15850 should be bought into.
Bank Nifty Daily Bias
Bank Nifty daily chart has moved in Neutral bias from Bullish on daily time frame.
Bank Nifty Gann Dates
As per time analysis 22 Sep is Gann Turn date, except a impulsive around this date. Last week 16 Sep gave the big move as expected.
Bank Nifty took support @ fibo fan and bounced back sharply, now range of 16450-16500 is the resistance zone @ Fibo Fan.
Bank Nifty Weekly
Bank Nifty Weekly chart as per Andrew Pitchfork again made an attempt to cross the AF line but unable to do so, This week 16000 needs to be watched closely on weekly basis, unable to close above it we can see a pullback like last time we saw BN turned after touching AF. Very interesting trading days ahead.
Bank Nifty Monthly
Bank Nifty is also approaching the trendline on upside was unable to cross the first time. September closing will be keenly watched.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:16200
Bank Nifty Resistance:16346,16476,16606
Bank Nifty Support:16086,15956 and 15826
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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