Bank Nifty Yearly Outlook and Forecast for 2020

2019 Nifty made  Bottom on 29 Jan based on Gann Price Time Squaring  and we saw almost 3500 Points move on upside when we formed top on 31 May @31784 perfect Gann Level  and we corrected 400 points and bottomed on 23 Aug very Important Astro date. Bank Nifty staged a spectacular rally after 20 Sep when we saw Corporate Tax Cut and the rally is still in progress Bank Nifty clocking double digit  gain of 18 % in 2019, .Nifty Technical Outlook and Time Cycle Dates for 2020

Yearly Chart

Yearly chart have formed an Higher High with Bullish Bias candlestick. As we can see in above  chart whenever Bank Nifty generally forms higher High for 6 years. We are in 4 Year suggesting we can continue rally for this year also.

2020 being a Leap Year where We generally see Correction in January month. Valuation Wise also we are trading at the Higher End as Bank Nifty is trading with a PE of 40 so upside seems to be capped between 32500-32784 till we see Expansion in Earning.

Monthly Gann Chart

Monthly Chart with Gann Angles is shown Breakdown below 30420 for a move till 28000. Breakout above 32768 for a move towards 34000.

Monthly Chart with Supply and Demand Zone

Monthly Trend line Support at 30420 break of that can see fall towards 29527,28197,27000,26441,25000. Monthly Trend line Resistance is at 32768,33500,34369,35937.

Nifty Projected Price Pattern

Important Dates as per Time Analysis :

Below dates can see Trend Change in Market.

10-Jan-20
14-Jan-20
29-Jan-20
10-Feb-20
18-Feb-20
28-Feb-20
08-Mar-20
17-Mar-20
07-Apr-20
23-Apr-20
4-May-20
25-May-20
04-Jun-20
19-Jun-20
30-Jun-20
12-Jul-20
22-Jul-20
04-Aug-20
16-Aug-20
23-Aug-20
12-Sep-20
20-Sep-20
01-Oct-20
15-Oct-20
25-Oct-20
1-Nov-20
10-Nov-20
26-Nov-20
10-Dec-20
19-Dec-20

Bank Nifty Yearly Trend Change:30420

Nifty Yearly Resistance:31280,32768,33500,34369,35937

Nifty Yearly Support:29527,28197,27000,26441,25000