Bank Nifty Weekly Prediction for 08-12 Feb

Last Week we gave Chopad Level 15650 Bank Nifty opened at 15565 below chopad levels and did all target in downside.Lets analyze how to trade Bank Nifty in coming week.

Bank Nifty Hourly

BANKNIFTY - Pyrapoint

Bank Nifty broke the 180 degree support and quickly saw fall till 225, did not close below the support and again gave the recovery, and heading towards 180 @15300/15373.

Bank Nifty Harmonic

Daily Harmonic

As discussed last week Bank Nifty can see rise till 16019 as per ABCD pattern. ABCD pattern got invalidated once Bank Nifty broke the 15101 levels.

Coming week we need to watch 15250 levels for a move till 15550/15800 as per Shark pattern  which got activated near 14751 as we have been discussing in our daily post.

Gann Angles

Gann Angles

Bank Nifty took exact support near the 3×1 line as shown above and gave the expected recovery from 15760 levels, Gann Angles are shown above close above 15713 can see move towards 16000/16400.

Bank Nifty Supply and Demand

Support Weekly_SD

Self Explanatory Chart

Bank Nifty Gann Dates

Bank Nifty As per time analysis  08/10 Feb 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, 15218/15565/15819/15914.

Bank Nifty Weekly

Weekly AF

It was negative week, with the Bank Nifty down by 360 points  closing @15162  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 38.2%,closing above it can see Feb month out of hands of bears.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:15170

Bank Nifty Resistance:15300,15565,15713

Bank Nifty Support:15050,14890,14760

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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