Bank Nifty Weekly Forecast for 15-19 September

Bank Nifty Hourly

Bank Nifty hourly charts is near its rising 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 has given a textbook style breakout, made new high @ 16309 and consolidating now, PSU banks have given a fresh breakout which can move index further up till 16500-16600. Correction can come till 16000.

 

Bank Nifty Daily EW

 

Bank Nifty Gann Dates

16-Sep is Gann turn date for Bank Nifty, expect explosive move near this date.

Fibonacci technique

Fibonacci fan

Bank Nifty approaching the resistance line of Fibo Fan, unable to close above it will lead to correction else uptrend continues.

 

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:16220

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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