Last Week we gave Chopad level of 12790 and Bank Nifty did 2 target on downside.
Lets analyze how to trade bank nifty coming week.
Bank Nifty Hourly
Bank Nifty hourly charts unable to cross 50 HSMA will remain under pressure. Bulls will have life only above 12900, till than bears will keep ruling bank nifty.
Bank Nifty Daily
Bank Nifty on daily chart is near its resistance area.Breakout comes above 12900 for target of 13000 and 13200.Unable to do so we can see pullback till 12320 odd levels which is the next important support.
Bank Nifty Fibonacci fan is near its Fibo Fan resistance level as seen in above chart.
Fibo Retracement also signalling bank nifty will march towards its all time high of 13400 once its able to close and sustain above 13000.
Bank Nifty Weekly
Bank Nifty Weekly chart unable to cross the weekly resistance trendline as shown in above chart.Till 12900 is not crossed on Weekly basis, Bank Nifty will remain under pressure.
Bank Nifty Monthly
Bank Nifty has risen 18.5% in March series,April month has started with a bearish note.
Bank Nifty Trading Levels
Bank Nifty Trend Deciding Level:12576
Bank Nifty Resistance:12706,12836,12966
Bank Nifty Support:12446,12316 and 12186
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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