Sunday, 14 June 2015

Bank Nifty forms Weekly Doji, Weekly Forecast

Last week we gave the Chopad level of 17516  Bank Nifty achieved 2 target on downside  and 1 target on upside rewarding discipline chopad followers .Lets analyze how to trade next week.

Bank Nifty Hourly

Bank Nifty Hourly
Bank Nifty with gann angles are shown, took broke at 8×1 went till price channel bounced back to touch 8×1 gann line  and now need to close above 8×1 on hourly basis  for bulls to get momentum to move towards 4×1 line.

Bank Nifty Hourly  EW Daily

Bank Nifty Hourly EW
Hourly Elliot wave analysis is shown, 17200  will play crucial levels next week. Holding the same initial move can be seen till 17800/18000.

Bank Nifty Pyrapoint Indicator

BANKNIFTY - Pyrapoint
Traded well in the range of Pyrapoint Analysis Support @225 degree line , resistance at 180 degree line.

Supply Demand Zone

Support
Self Explanatory chart depicting Supply and Demand zone. Again bounced back from the demand zone :)

Bank Nifty Harmonic

Daily Harmonic
Bank Nifty has completed its Cypher pattern holding the low of 17200 can see initial bounce towards 17800 above that 18200.

Bank Nifty EW Daily

BN Daily EW
Use dips to keep accumulation quality banking stocks. Long term targets are still pending as shown above.

Bank Nifty Daily Gunner

Daily Gunner
On Daily chart  as per Gunner has taken support at the horizontal line and also close above the 1*1 gann line now move above 17800 can see good move on upside 18150/18400.

Bank Nifty Gann Dates

Nifty As per time analysis 17 June/19 June  is Gann Turn date , except a impulsive around this dates. Last week we gave 08 June/10 June  Nifty saw a volatile move .

Fibonacci technique

Fibonacci Fans
nifty ff

Again held on to its 38.2 %  as per FF

Bank Nifty Weekly

Weekly AF
It was negative week, with the Bank Nifty down by 25 points  closing @17523 forming a weekly Doji , price again held its 50 WSMA and also AF line . We are in neutral to bullish time cycle from 15 JUne.
BN Weekly Time Analysis


Bank Nifty Weekly  Gunner

Weekly Gunner

Bank Nifty Monthly

Bank Nifty Monthly
Bank Nifty On Monthly chart prices got reject on higher end of Fibonacci channel now held the 61.8% retracement.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:17525

Bank Nifty Resistance:17646,17906,18036

Bank Nifty Support:17386,17256,17126

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