Bank Nifty, also seems to be in similar pattern and we seems to have started the down move which is going to be very violent. In coming weeks it seems to be heading downwards and bears are going to rule this index also. It has chances of going to 14000 levels which happens to be nearly 3000 points from current levels.

Mahiidar M
Enjoying Life
Trend is Friend.

Bank Nifty has formed a very bearish signal after 21 months so cannot be ignored. first the 20 day EMA has moved below 50 day EMA in the beginning of this month. this has happened after August 2013 and 20 day EMA is now on the verge of moving below 100 day EMA if that happens then it would be first time after January 2013. So all these are pointing towards bearishness in Bank nifty which should also reflect in Nifty also we would see it later. 

There is also another bearish pattern which has been formed over a period of five months which most of the analysts seems to have missed. Bank nifty has formed Heads and Shoulders over a period of five months and it has  broken below the neck line in march last week moved down then moved up and it touched the neck line and started to move move down a perfect H&S pattern. If it is not negated then bank nifty can all the way go to 16500 levels to achieve the target (H&S implications) whether bnf would go to that level which is nearly 2000 points from current levels it seems so. So bulls in Bank nifty be careful.

Mahiidar M

Enjoying Life

Trend is Friend.

During the last four to five days market has been in close range, so what is the market indicating. We would now look into the Bank Nifty which has some good weightage in the market. bank nifty seems to have formed H&S pattern and has broken below the neck line which, the target for the same is coming to be around 9400 levels and now we are at 10350 levels, so we have now nearly 900 points from that level. currently bank nifty in the last one weeks seems to be forming a flag pattern. Generally Flag pattern is formed in the middle of the ensuing trend, so we seems to have completed only 50% of the fall and we have yet to move another 50%, the trend has started from around 11200 levels so this is also pointing towards another 1000 points from current levels. Till this pattern is negated the market has all the chances of moving down from current levels. any breach of 10300-10250 levels would confirm the break of flag and down trend would confirm.

 

M.Sri Mahidar

Trend is Friend.

 

Bank Nifty seems to be forming a pattern which is between two trend lines indicated above. As per this the target for this fall is around 7000 levels which is nearly 30% fall from the current price. So we are in for a big fall if the pattern is correct. But in the mean time there is a trend line (red) which is there which can offer support, the trend line drawn joining the lows of all the bottoms from year 2002 onwards nearly from 2001 onwards, 13 year trend line. Note that 13 is a Fibonacci so we have chances  of this breaking this time. So in short term the support appears to be at 9600 levels and if its taken out all the hell would break loose atleast in bank nifty and which can have ripple effect on other indices especially nifty.

 

M.Sri Mahidar

Trend is Friend.

Bank Nifty Wolf Wave

Bank Nifty seems to have made a clear wolf wave pattern and the the target for the same for now comes to around 9600 which is nearly 1500 points from the current levels. this is giving an indication of greater break down of indices and possible break of 6000 in nifty as bank nifty has 20-25% weightage in nifty.

M.Sri Mahidar
Trend is Friend.

Bank nifty

Bank nifty update

Bank Nifty

Bank nifty update

Bank nifty is showing all signs of weakness. And it appears that it is on its way to a heavy down wards movement. It can be seen from the chart above that 50 day EMa has moved below 100 day EMA indicated by (eclipse) this has happend for the first time after april-may 2009 and the gap between then is increasing indicating that we might see further down sides. it can also be seen in the chart above indicated by blue square that bnf has moved above 200 day EMA and has found resistance at 100 day EMA and there after started to move down and once again moved below 200 day EMA indicating the buying support is not comming into the banks and this is clearly a warning sign for bulls and bears would be happy as they are seeing the bulls are not interested in buying as of now.
M.Sri Mahidar

Bank Nifty

Bank nifty

Bank nifty

Bank Nifty

Bank nifty

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Bank hifty

Bank Nifty

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