Banknifty Weekly Forecast - 10th May to 16th May

Bank nifty Weekly Candlestick Chart analysis:

Banknifty Weekly candlestick chart
Banknifty Weekly candlestick chart 

As we said in a previous blog,On a weekly chart Banknifty has made a DOJI Candle which suggesting Big move may come in coming week. we have seen 1000 points fall in Banknifty.

Now on a weekly chart ,Big bearish candle is formed. Bear having full control till 29500 does not cross.

Weekly Levels:

Support 28512 to 28404

Resistance 29300 to 29400

Banknifty Daily Chart analysis:

Banknifty Daily Chart
Banknifty Daily Chart

On Daily Chart Doji Candle formed which suggest neither bull nor bear win the battle. Market may give relief rally in coming days. if start to close above 29016 then 29400 may come. Bear will get control below 28764.

Banknifty Hourly Chart analysis :

Banknifty Hourly chart
Banknifty Hourly chart

Resistance 29200 29500

Support 28800 

Banknifty Spot Weekly Target :

Buy above 29016  Target 29160 , 29304 , 29448

Sell below 28764  Target 28638 , 28512 , 28404

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