Bank Nifty bounces from 4×1 gann line , Weekly Forecast

Last week we gave the Chopad level of 18680 Bank Nifty did 1 target on upside and with big gap down the Shorting trade was avoided . Lets analyze how to trade market in coming wee.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty need to sustain above 3×1 and 4×1 line for bulls to act else 18400/18300 can be seen.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

Bank NIfty has been trading in the range of 135 and 90 degree pyrapoint angle, 90 degree has proved to be an elusive resistance from past 2 months and 135 degree strong support.



Gann Box

Gann Box

Bank NIfty held to 4×1 line saw a decent bounceback 2×1 line @19050 should be seen closely in coming week.

Bank Nifty EW Daily

BN Daily EW

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

Who bought banking stocks should have been rewarded handsomely, profit booking is always advised.



Bank Nifty Gann Dates

Bank Nifty As per time analysis  04 August/07 August is Gann Turn date , except a impulsive around this dates. Last week we gave   27 July/01 August Nifty saw a volatile move .


Fibonacci technique

Gann Fans

Bank NIfty FF



Bank NIfty FR

61.8% retracement @19250  and 50%@  19041  should be closely watched for further price action.

Bank Nifty Weekly

Weekly AF

It was positive week, with the Bank Nifty up by 94 points  closing @18730 , price again held its median of  AF line. Holding the same it can move to 19000 zone target as per AF. We are still in Bullish time cycle from 14 June till mid September, correction in between should be bought into with proper risk management.

BN Weekly Time Analysis  


Bank Nifty Monthly

Bank Nifty Monthly

Again  Monthly unable to cross Breakout level.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:18830

Bank Nifty Resistance:18980,19150,19370

Bank Nifty Support:18580,18460,18300


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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