Bank Nifty Weekly Analysis for 11-15 May

Last week we gave the Chopad level of 18296  Bank Nifty achieved 3 target on downside  rewarding discipline chopad followers .Lets analyze how to trade next week.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty entered in demand zone and saw a strong bounceback. Till Holding below  21/34 EMA @bears  have upper hand.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown,2 possibility have been discussed.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

Traded well in the range of Pyrapoint Analysis Resistance @180 degree line , support at 270 degree line.

Supply Demand Zone


Self Explanatory chart depicting Supply and Demand zone.

Bank Nifty Channel

daily chart

200 DMA is held so bulls have upper hand.

Bank Nifty Harmonic

Daily Harmonic

Next round of upmove above 17800 for 18200/18400.

Bank Nifty EW Daily

BN Daily EW

Use dips to keep accumulation quality banking stocks. 


Bank Nifty Market Profile

Market Proflie

As per Market Profile 17900  should be watched in coming week  below that 17500/17200 is short term target. Above it can move towards 18200/18400

Bank Nifty Daily Gunner

Daily Gunner

On Daily chart near important Gunner resistance @1*2 line,unable to cross the same can see deeper fall.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 11 May/14 May  is Gann Turn date , except a impulsive around this dates. Last week we gave 04 /07 May  and Bank Nifty saw a volatile move on both the days .

Fibonacci technique

Fibonacci Fans

Bank NIfty FF

Close near its 38.2 % retracement as per FF

Bank NIfty FR

23.6/38.2  % number is 1823 should be watched.

Bank Nifty Weekly

Bank Nifty Weekly Bias

It was negative week, with the Bank Nifty down by 541  points  closing @17796 , closing at the extended support line of Andrew Pitchfork  and closing below its 20 WSMA and holding 50 WSMA This is what we discussed last week .As per gunner heading towards 1*2 gann line if red arc @18450 is not crossed. Took exact support at 1*2 gann line

BN Weekly Time Analysis


Bank Nifty Weekly  Gunner

Weekly Gunner

Bank Nifty Monthly

Bank Nifty Monthly

Bank Nifty On Monthly chart prices got reject on higher end of Fibonacci channel now held the 78.6% retracement.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:17906

Bank Nifty Resistance:18036,18296,18556

Bank Nifty Support:17776,17516,17256

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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