Bank Nifty Weekly Analysis for 15-19 Dec

Last week we gave  Nifty Chopad level of 18816  .Bank Nifty did 3 target on downside  rewarding chopad followers by 520 points.  Lets analyze how to trade Bank Nifty next week.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty forming ascending triangle pattern break of 18200 can see a downmove of 250/300 points.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown,18200/18186 will play crucial role next week.

Bank Nifty EW Daily

BN Daily EW

Long term Elliot wave is drawn on Bank Nifty which gives target of 19819, sol dips till 18000/17800 should be bought into.


 Bank Nifty Daily Bias

Bank Nifty Daily Bias

Bank Nifty daily bias has turned to Buy the Dips for next week.


Bank Nifty Gann Dates

As per time analysis 16 December -1 day  is Gann Turn date , except a impulsive around this date.

Fibonacci technique


Fibonacci Fans

nifty ff

Bank nifty is now approaching the support zone of 18000 odd levels, holding the same can see good upmove.


Bank Nifty Weekly


Bank Nifty Weekly chart As per AF bank nifty is approaching the support zone so need to closely watch next week price action.

BN Weekly Time Analysis


Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty is also approaching the trendline on upside signalling bulls needs to be cautious now.


 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:18296

Bank Nifty Resistance:18426,18556,18686

Bank Nifty Support:18166,18036,17906

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.Please also read the detailed Disclaimer mentioned in the Right side of Blog.

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