Bank Nifty Outlook and Trend for 10-14 Oct

Last Week we gave Chopad Level 19250 Bank Nifty opened gap down and did not gave entry as per chopad levels ,  Lets analyze how to trade bank nifty in coming  week.

Bank Nifty Hourly

Bank Nifty again failed to cross above the hourly trendline as shown in above chart,suggesting bulls are still not out of woods. Only close above 19800 can see hourly chart turning in favor of bulls. Break of 19000 can see fast downmove towards 18800/18500.

Bank Nifty Harmonic Pattern

We are forming a bearish ABCD pattern which can threaten the low formed on Surgical strike day for this pattern to get invalidated bulls need to break 19800 in coming week, else we are breaking 19000 and can see fast move towards 18800/18596.

Supply and Demand Analysis

As discussed in last analysis Bulls need to hold 19650 in correction  for a move towards all time high of 20907.

Bulls failed to hold 19650 now unable to close above 19650 we can see correction till 18800/18500

Gann Angles

As per gann angles, resistance at 20000 and support at 19000.

Bank Nifty Gann Dates

Bank Nifty As per time analysis  10 Oct  is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 114 points  closing @19400  forming gravestone doji pattern . Bank Nifty took resistance at upper end of AF line as discussed in last analysis for last 4 weeks, Bulls need  close above 20155 is important for bulls to march towards new high.  support at 19500.

Bank Nifty Monthly

Monthly chart finally saw correction after 6 Months of rise, bulls need to close above 19800 for momentum to come in their favor.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:19420

Bank Nifty Resistance:19520,19650,19850

Bank Nifty Support:19310,19200,19000

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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