Bank Nifty Weekly Technical Analysis

Last Week we gave Chopad Level 16050 Bank Nifty did all target on downside by Thursday and did not close above the Chopad level during the whole week, such was the selling in Banking stocks.

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 Traders’ Resolutions for New Year-2016 

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Lets analyze how to trade Bank Nifty next week after seeing almost 1900 point fall in 2016.

Bank Nifty Hourly

BANKNIFTY - Pyrapoint

Bank Nifty once 135 degree was broken fall like 9 pins and took support at 180, and also broke and closed below 180 in the fag end of week, Support is at 14850 where 225 degree angle lies.

Bank Nifty Harmonic


Bank Nifty can see fall till 14562 once it closes below 15000.


Bank Nifty Supply and Demand


Self Explanatory Chart

Bank Nifty Gann Dates

Bank Nifty As per time analysis  18/20 Jan is Gann Turn date , except a impulsive around this dates.

Fibonacci technique

 Fibo Retracement

Bank NIfty FR

Fibo levels to be watched in coming week, 14994/14484

Bank Nifty Weekly

Weekly AF

It was negative week, with the Bank Nifty down by 936 points  closing @1506  breaking support of AF median line  also unable to close above its 20/50 WSMA and  100 WSMA, Support at lower end of AF comes @14540

Bank Nifty Monthly

Bank Nifty Monthly

Monthly chart broke support at 38.2% and can had towards 23.6%.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:14994

Bank Nifty Resistance:15231,15420,15650

Bank Nifty Support:14860,14700,14520

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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