Bank Nifty ready for Big move,Weekly Forecast

Last week we gave the Chopad level of 17220 Bank  Nifty gave Shorting opputunity @17220 for Chopad Followers and did all 2 targets on downside and again gave Long Opportunity did 1 target on upside thus rewarding Chopad Followers by 700 points. Lets analyze how to trade market in coming week.

Bank Nifty Hourly

Bank Nifty Hourly

 Bank Nifty hourly chart is showing 21/34 EMA going flat suggesting range compression and we are bound to see range expansion in coming week, Breakout above 17652 and breakdown below 17100.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint

Resistance@ 180 degree line and Support @225 ,pyrapoint also suggests big move is round the corner.

Gann Box Analysis

Gann Box

Bank Nifty needs to close below for 2×1 gann line for bears to attack till 2×1 line @17100 is held bulls are in control.

Bank Nifty Supply and Demand


Bank Nifty 17100 is important level to watch breaking the same bank nifty will move towards 16800/16500/16300 in short term.Breaking above 17650 can see mvoe towards 17820 and 18050 in short term

Bank Nifty Gann Dates

Bank Nifty As per time analysis  05 Oct/09 Oct is Gann Turn date , except a impulsive around this dates. Last week we gave  30 Sep Bank Nifty saw a volatile move .

Fibonacci technique


Fibo Fans

Bank NIfty FF

Unable to cross 78.6 % fibo fans not a good sign for bulls

Bank Nifty Weekly

Weekly AF

It was negative week, with the Bank Nifty down by 46 points  closing @17150 . For coming week as AF median line is getting resisted unable to cross the same bank nifty will head towards 16800/16500 in short term.Holding the same 17800/18050 on cards.

Nifty Weekly Timeline

Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart get resisted @ 61.8 @ around 17600

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:17220

Bank Nifty Resistance:17500,17640,17900

Bank Nifty Support:17000,16750,16500


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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