Last Week we gave Bank Nifty Chopad level of 15306 and Bank Nifty did all 3 target on upside rewarding traders with 696 points, We have IIP and Inflation data so Bank Nifty will likely to another volatile week ahead, lets analyze how to trade bank nifty now.
Bank Nifty Hourly
Bank Nifty hourly charts is forming a rising wedge pattern which is active on close below 15330. Breakout above 15566 for a target of 15750.
Bank Nifty Daily
Bank Nifty daily as per Gann Box is taking resistance at the yeallow line,breaking the same target is life high @15750, Alos EW is giving target of 16K on Bank Nifty.
Bank Nifty Fibonacci fan with gann circle shows we are at critical juncture, and holding 15400-15450 range we can see life high @15750.Any break below 15300 will see a quick fall till 15000.
Bank Nifty Weekly
Bank Nifty Weekly chart as per Andrew Pitchfork has crossed the median line is facing resistance at its upper end line of Andrew Pitchfork, I have drawn the extended AF line which gives target of 18000 in medium term using the bell curve.
Bank Nifty Monthly
Bank Nifty as per monthly chart gives target of 16700-17000
Bank Nifty Trading Levels
Bank Nifty Trend Deciding Level:15566
Bank Nifty Resistance:15696,15826,15956
Bank Nifty Support:15436,15306 and 15046
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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