Bank Nifty Weekly Analysis for Fed Rate Hike Week

Last week we gave the Chopad level of 16980 Bank Nifty gave short entry and continued with the fall throughout the week achieved all 3 target on downside. Lets analyze how to trade Bank Nifty in coming week.

Bank Nifty Hourly

BANKNIFTY - Pyrapoint

Bank Nifty finally broke the pyrapoint range and saw a big fall, range breakdown happened support at 16000 levels as shown below where shorts should part book.

Bank Nifty Harmonic

Bank Nifty Harmonic

As discussed  last week

In medium term Bank nifty is forming a Bearish Gartley pattern to complete bank nifty needs to rally tilll 18000, once the low of 16587 gets broken pattern gets invalidated.

BAT pattern is invalidated now Gartley pattern will complete around 16024 levels, holding the same we can see bounceback.

Gann Angles

Gann Angles

Gann Angles with medium term view is shown above.

Bank Nifty Supply and Demand


Self Explanatory Chart

Bank Nifty Gann Dates

Bank Nifty As per time analysis  16 Dec  is Gann Turn date , except a impulsive around this dates. Last week we gave  07/11 Dec Bank Nifty saw a volatile move .

Fibonacci technique

 Fibo Retracement

Bank NIfty FR

Fibo levels to be watched in coming week, 16292/15819

Bank Nifty Weekly

Weekly AF

It was negative week, with the Bank Nifty down by 554 points  closing @16342  also unable to close above its 20/50 WSMA, closed near 100 WSMA and also taking support near middle of AF line


Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart unable to close above  @ 61.8  and unable to break 50%  suggesting all rallies are sold into.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:16250

Bank Nifty Resistance:16350,16540,16751

Bank Nifty Support:16050,15900,15760

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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