Bank Nifty Weekly Forecast for 17-21 Aug

Last week we gave the Chopad level of 18920 Bank Nifty did 1 target on upside and 3 target on downside rewarding disciplined chopad followers. Lets analyze how to trade market in coming week .

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty need to sustain above 4×1 line and close above 45 degree line  for bulls to see breakout.Bounced from 2×1 line on downside suggesting good support in this range.

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  and heading towards 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 Supply and Demand


 Bank Nifty rotated between Supply and Demand zone and rewarding traders who shorted at Demand zone and bought back at supply zone. Self Explanatory chart shown above.

Bank Nifty Gann Dates

Nifty As per time analysis  19 August/21 August is Gann Turn date , except a impulsive around this dates. Last week we gave  11 August/14 August Nifty saw a volatile move .


Fibonacci technique

Gann Fans

Gann Fan

Heading towards 3×1 gann fan line.


Bank NIfty FR

61.8% retracement @19250  and 50%@  19041 Also 18858/18600  should be closely watched for further price action.


Bank Nifty Weekly

Weekly AF

It was negative week, with the Bank Nifty down  by 169  points  closing @18723 forming hammer candlestick pattern . Support at median of AF line @18700 We are still in Bullish time cycle from 14 June till mid September, correction in between should be bought into with proper risk management.  Hope traders are rewarded

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:18770

Bank Nifty Resistance:18900,19070,19185

Bank Nifty Support:18680,18560,18460


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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4 thoughts on “Bank Nifty Weekly Forecast for 17-21 Aug”

  1. I hope we are paying attention to the %deliverable on the PSU bank stocks. Technical aside, the indicator is telling us that spot traders do not have confidence to carry a spot trade. do we see a sharp drop after a sharp spike on Friday. Time will tell….

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