Bank Nifty Weekly Forecast for 16-20 Jan

Last Week we gave Chopad Level 18300 Bank Nifty gave Short Entry on Monday but got stopped on Tuesday as Nifty opened gap up and low made was 18275 suggesting short need to cut  and Longs were triggered which were rewarded as Bank Nifty did the 3  target of 18740 thus rewarding Chopad Followers. New Time Cycle rewarded Bank Nifty Bulls as Bottom of this upmove was made on 09 Jan and from 10 Jan Nifty rallied 710 points in 4 days.

Bank Nifty Hourly

As discussed in last analysis Bulls need follow upmove above 18250 for a move till 18700, Unable to do so fall again till 17800/17400.
Now Bulls need a close above 19000 for a move towards

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