Bank Nifty Weekly Analysis for 09-13 Sep

We are tracking and following the Bank Nifty moves from the last couple of weeks. you can see all past analysis here.

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

If we see in the above chart, our last discussed Primary hurdle for Bank Nifty was 28480-28545 range. 

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

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

Bank Nifty Weekly Outlook

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

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

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

Bank Nifty Weekly Trading Levels

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

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