Last week we gave trend changer level of 11406 and Bank Nifty almost did the 3 target on downside.Lets analyze how to trade Bank Nifty in coming week.
Bank Nifty Hourly
Bank Nifty Daily
Bank Nifty on daily chart is near its trendline support and also its 200 DMA. Breaking the same Bank nifty can go down all the way upto 10500.
Bank Nifty Fibonacci fan are wonderful tool to find the top and bottom in short term.Support at 10700-10670. Resistance at 11321.
Fibo Retracement also signalling support @11236
Bank Nifty Weekly
Bank Nifty is broken its trendline support which is bearish in short term. Breakdown below 11016 for target of 10800-10666 in short term.Bounce back only on close above 11208 for 11500-11600
Bank Nifty Monthly
Bank Nifty Trading Levels
Bank Nifty Trend Deciding Level:11146
Bank Nifty Resistance:11276,1140611536 and 11666
Bank Nifty Support:11016,10886,10756 and 10626
Levels mentioned are Bank Nifty Spot
Let me go by Disclaimer these are my personal views and trade taken on these observation should be traded with strict Sl
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