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Bank Nifty Weekly Analysis for 09-13 Sep

Published On:

Updated On:

We are tracking and following the Bank Nifty moves from the last few weeks. You can see all past analysis here.

In the coming week, one critical Cycle will be completed in the Bank Index. Apart from this, the Bank Nifty is trading near multiple stiff resistance points at present.

The above chart shows that our last discussed Primary hurdle for Bank Nifty was in the 28480-28545 range.

The Bank Index made the swing high near 28280 and cracked around 1600 points.

The opportunity was exceptional and rewarded our students who possess the Knowledge of identifying Unique Trend shift points.

Bank Nifty Weekly Outlook

On the Daily chart, the Bank Index is facing Resistance from the critical Gann angle line. For further rise, it should break and get the EOD close above it.

In the next week, 27455-27510 is the Primary resistance zone for Bank Nifty. Closing above it can trigger a short—to medium-term trend change.

In the forthcoming week, 12 & 13 September are the critical dates.

Bank Nifty Weekly Trading Levels

Next week, 27425 will act as Resistance above, which will move towards 27550/27725/28000.

While Support is likely to come at 27025, below that, a move towards 26900/26725/26450 can be seen.

Note: The above-mentioned Price projection & other Information are for educational purposes only.

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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.