Bank Nifty forms Weekly Doji, Weekly Forecast

Last week we gave the Chopad level of 17516  Bank Nifty achieved 2 target on downside  and 1 target on upside rewarding discipline chopad followers .Lets analyze how to trade next week.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty with gann angles are shown, took broke at 8×1 went till price channel bounced back to touch 8×1 gann line  and now need to close above 8×1 on hourly basis  for bulls to get momentum to move towards 4×1 line.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW

Hourly Elliot wave analysis is shown, 17200  will play crucial levels next week. Holding the same initial move can be seen till 17800/18000.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

Traded well in the range of Pyrapoint Analysis Support @225 degree line , resistance at 180 degree line.

Supply Demand Zone


Self Explanatory chart depicting Supply and Demand zone. Again bounced back from the demand zone 🙂


Bank Nifty Harmonic

Daily Harmonic

Bank Nifty has completed its Cypher pattern holding the low of 17200 can see initial bounce towards 17800 above that 18200.

Bank Nifty EW Daily

BN Daily EW

Use dips to keep accumulation quality banking stocks. Long term targets are still pending as shown above.


Bank Nifty Daily Gunner

Daily Gunner

On Daily chart  as per Gunner has taken support at the horizontal line and also close above the 1*1 gann line now move above 17800 can see good move on upside 18150/18400.

Bank Nifty Gann Dates

Nifty As per time analysis 17 June/19 June  is Gann Turn date , except a impulsive around this dates. Last week we gave 08 June/10 June  Nifty saw a volatile move .


Fibonacci technique

Fibonacci Fans

nifty ff


Again held on to its 38.2 %  as per FF

Bank Nifty Weekly

Weekly AF

It was negative week, with the Bank Nifty down by 25 points  closing @17523 forming a weekly Doji , price again held its 50 WSMA and also AF line . We are in neutral to bullish time cycle from 15 JUne.

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 61.8% retracement.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:17525

Bank Nifty Resistance:17646,17906,18036

Bank Nifty Support:17386,17256,17126

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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5 thoughts on “Bank Nifty forms Weekly Doji, Weekly Forecast”

  1. Bramesh – Is BN a good buy at 17300 for a target of 17600 in this new time cycle? Or are we looking likely to breach 17000? The rallies look weak.

  2. Great analysis, I am in the bullish camp next week, we may get a resolution of Greece soon, also FOMC on wednesday usually tends to be positive for stocks globally, market is very oversold, can bounce to 18000 easily.

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