Nifty Bank Nifty Weekly Outlook 14-18 Sep

Last week, Reliance Industries (RIL) was the star of the week. 

The over 12% rally in RIL supported the Nifty Index, and bulls bounced-back towards 11500 by the friday.

But talk of the town during the weekend was SEBI New Rule on Multicap Funds Asset Allocation.

Because of that, traders are expecting weakness in Large-cap stocks and bullishness in Mid and small-cap stocks.

It will be interesting to see how the market will react to this new change.

As a trader, you should keep stick with your trading levels; the rest is background noise.

In the coming week, No major cycle is there.

But significant monthly cycles can show their impact; you can learn more details about ‘Monthly’ cycles and there influence on markets in the two posts.

Nifty Weekly Analysis

In the coming week, 15 & 18th Sep are the Important Gann dates.

Nifty Weekly Trading Levels

Next week 11500 will act as Resistance; above that, 11550/11620/11770 levels can come.

The 11320 will act as Support; below that, 11270/11200/11050 levels can be seen.

Bank Nifty Weekly Analysis

The interest wavier and moratorium extension case in the supreme court gets postponed for two more weeks.

But that didn’t support much to the Bank Nifty Index. And Index ended the week with a 530 points loss.

In Bank Nifty Index Rise Ahead? Post, you will find Index analysis from a broader perspective.

That will help you in better understanding the present state of Bank Index on the technical front.

In the coming week, 15 & 18th Sep are the Important Gann dates.

Bank Nifty Weekly Trading Levels

Next week 22600 will act as Resistance; above that, 22720/22880/23280 levels can come.

The 22180 will act as Support; below that, 22060/21900/21500 levels can be seen.

Note: Above mention Price projection & other Information is 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.