Bank Nifty Weekly Forecast for 01-05 Feb

Last Week we gave Chopad Level 15550 Bank Nifty did 2 target on downside and 1 Target on Upside.

Lets analyze how to trade Bank Nifty in coming week.

Bank Nifty Hourly

Bank Nifty Hourly

Bank Nifty was supporting at 180 degree during the whole past of last week, Opened gap down on Friday below 180 but quickly reovered and now heading towards 135 @15962.

Bank Nifty Harmonic


Bank Nifty can see rise till 16019 as per ABCD pattern.

Gann Angles

Gann Angles

Gann Angles are shown above close above 15713 can see move towards 16000/16400.

Bank Nifty Supply and Demand


Self Explanatory Chart

Bank Nifty Gann Dates

Bank Nifty As per time analysis  02/04 Feb is Gann Turn date , except a impulsive around this dates.

Fibonacci technique

 Fibo Retracement

Bank NIfty FF

Fibo levels to be watched in coming week, 15218/15819/15914.

Bank Nifty Weekly

Weekly AF

It was positive week, with the Bank Nifty up by 24 points  closing @15522  heading towards median line,forming a Hammer candlestick also unable to close above its 20/50 WSMA and  100 WSMA. Resistance on upside comes at middle level of AF line @15875 and gann resistance at 15914.

Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart broke support at 50% and went towards 38.2% as we have discussed last week.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:15650

Bank Nifty Resistance:15760,15914,16100

Bank Nifty Support:15480,15300,15130

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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