WEEKLY CHART BOOK PRESENTS TECHNICAL VIEW OF THE NIFTY &
BANK NIFTY:
NIFTY VIEW FOR THE WEEK 28092015:
Last Week Was A Complete Range Bound Week For NIFTY As Nifty
Fluctuated Between Supports & Resistances And Moving In A Very Narrow Band
Of 8021 To 7723 Which Is A 300 Nifty Points Range
7700-7668 Is The KEY SUPPORT Zone Which MUST NOT Broken If
Bulls Are To Have Upper Hand In Coming Week/Weeks
Even After Good Bounce Back On Last Two Days I Believe The
Short Term Trend Can Remain Down If NIFTY Can Not Close Above 7900
Once Above 7900 NIFTY Should Reach 8021-8092 First And 8204
Is Also Possible On The Upside
As Being Shown Here There Is A Visible INVERTED HEAD &
SHOULDER Price Pattern On NIFTY As Well As BANKNIFTY Charts Bulls Will Try To
Cross The NECKLINE
NIFTY EOD CHART:
For The Medium Term Trend A NIFTY CLOSE Above 8321 Is An
Absolute Must And I Hope With Our Daily Technical Views We Will Be Able To Ride
The Trend
One Can See A BROADENING PRICE Structure As Drawn On This
WEEKLY NIFTY CHART Which Suggests That There Will Be A Lot Of Supports At Lower
Levels Even If NIFTY Can Not Hold 7668 In Coming Days On The Bearish News Flow
If The NIFTY Moves Down 7759 Will Be An Important Support Too
WEEKLY NIFTY 240915:
BANK NIFTY TECHNICAL VIEW :
With The Strength Of A Few Private Banks Like YESBANK /AXIS
/INDUSIND /KOTAK Bank Nifty Showed A Better Positive Move In The Past Week
Even After A STRONG BEARISH Candle On 22nd BANKNIFTY
Remained Above Key Support At 16681 And After Last 2 Days Positive Move BANK
NIFTY Seems Even More Bullish So Once Above 17660 BNF Should Easily Reach
17901-18034
If BNF Can Close Above 17660 On Monday Itself Expect Better
Than Expected RBI Policy Announcement On Tuesday
But Before Or After RBI Day Please Watch 16681 On A Closing
Basis Because If BNF Closes Below 16681 Bullish Structure Will Be Damaged I Am
Expecting A Level Around 18000 First
BANKNIFTY EOD CHART 240915:
Here Are A Few Bank Charts With My Comments On Charts
AXIS:
HDFC BANK :
KOTAK BANK :
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