Nifty & Nifty Bank Weekly View for 26/02/2018 to 02/03/2018

WEEK ON WEEK NIFTY CLOSED WITH GAINS OF ABOUT 40 POINTS WHEREAS NIFTY BANK CLOSED WITH GAINS OF 140 POINTS. 

FURTHER AGGRESSIVE CHART PATTERN WHICH WE DISCUSSED 2 WEEKS BACK IN OUR POST TENDS TO BE REJECTED NOW DUE TO SOME VIOLATION OF CHART PATTERN. 

Anyway lets move further and Analyse what could be road ahead for Nifty & Nifty Bank for next week.

Nifty View

Now lets have look at spot Nifty Daily Chart. (Old chart of last post)

(Incase if you are not able to view full image click on image to enlarge)

Now lets have look at updated Spot Nifty Daily Chart

(Incase if you are not able to view full image click on image to enlarge)

In last past week 10276 was not breached despite of the fact of bears managed to make low of 10307 but unable to lead momentum thereafter. 

Now lets have look at spot Nifty Weekly Chart. (Old chart of last post)

(Incase if you are not able to view full image click on image to enlarge)

Now lets have look at updated Spot Nifty Weekly Chart

Weekly 20 & 50 EMA comes at 10432 & 9965 respectively

Looking at weekly chart we feel still Bears have last chance for complete aggressive bearish pattern for downside target till 9600 or so.  

Nifty Bank View

Now lets have look at spot Nifty Bank Daily Chart. (Old chart of last post)

(Incase if you are not able to view full image click on image to enlarge)

Now lets have look at spot updated Nifty Bank Daily Chart

(Incase if you are not able to view full image click on image to enlarge)

Though no bad news came in but Nifty Bank dipped till our support level of 24810 (leverage of some points taken) but still in last trading session of week Bulls managed to close with some gains on weekly close. 

Now lets have look at spot Nifty Bank Daily Chart. (Old chart of last post)

(Incase if you are not able to view full image click on image to enlarge)

Now lets have look at update spot Nifty Bank Weekly Chart

(Incase if you are not able to view full image click on image to enlarge)

Weekly 20 & 50 EMA comes at 25467 & 24091 respectively


On weekly chart aggressive Bearish Pattern Inverted Flag & Pole needs to be discarded now as some how structure which needs to be formed is getting weak now. 

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Please note this blog post is for education purpose only. While utmost care is taken while writing this post but any human error cant be ruled out and we apologize for same in advance.