What Can be the Bank Nifty Target 2017?
Last few analysis I have mainly concentrated on Nifty index. Those who are new to this site don’t know that I have predicted 9150 in Nifty when Nifty was trading at 9600. The prediction gave a super 550 points gain to our readers. Can you read the post at Fresh Breakout? What Is The Next Target Of Nifty? Once our target zone hits I asked to stay on sidelines.
But what in store for Bank Nifty?
Watch the image below. You can see that Bank Nifty daily chart shows that Bank Nifty index has crossed its last make OR break zone of 20860 and once took support on make OR break.
the Bank Nifty target 2017 comes close to 22375. Trade with a positive bias only.
The Nifty Make OR Break View:
Watch the daily chart of Nifty below. We can see that Nifty is finally crossing the upper edge of the make OR break on closing basis. This throws bank new Nifty target 2017 for us.
For Nifty next target, let’s change over to weekly chart. The weekly chart throws a different story. Nifty is testing its weekly MOB zone at 9280.
If the weekly bar can close above the upper edge of this MOB we can see a move till next MOB zone of 9575. A different calculation already has shown Nifty Target For April Expiry.
My Personal Thought: Whatever be the targets still there is no chance of weakness yet, though I personally will be happy if we get a correction to 9050 / 8900 to be sure-shot for fresh upside. Till then trade with light positions.
Indrajit is a professional blogger and trading system developer. Amibroker expert, WordPress expert, SEO expert and stock market analyst.Trading since 2002, he has started the journey of StockManiacs.net on 2008. He follows Indian and world stock markets closely.
Categories: Trading Strategy