Bank Nifty Analysis for 14-18 Oct Week

In the last Bank Nifty Weekly Analysis post, we discussed. The Bank Index is soon going to reach one of its critical Time Cycle points. Hence we can see a trend change in Bank Nifty and volatile moves.

The Bank Nifty Cycle analysis paid us well, and after mammoth rally 4100 points in September end, we saw the correction of around 3200 points.

I am now moving ahead as per the Bank Nifty Daily Chart Analysis. Bulls need to trade above 28300 to get some strength back.

On the lower end, the first crucial Support is around 27500 and below that Primary Support is at 26900 levels. Any weekly close below 26900 will add more bearishness from short to medium term.

In the forthcoming week, 14 & 16 October is the critical dates.  

Bank Nifty Weekly Trading Levels

Next week 28300 will act as Resistance above which move towards 28500/28850/29300 can seen.

While Support is likely to come at, 27900 below that move towards 27700/27350/26900 can be seen.

Note: Above mention Price projection & other Information are for educational purpose only.

About the author

Divesh Jotwani is a full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day-in and-out markets.