Last week we gave Nifty Chopad level of 17256 Bank Nifty did not close below 17256 once and achived 2 target. Lets analyze how to trade Bank Nifty in coming week.
Bank Nifty Hourly
Bank Nifty Trendline resistance comes @ 17675, Bank Nifty made high @ 17650 and turned back, now important support @ 17400 breaking the same can see quick fall till 17000/16800,else upmove to continue.
Bank Nifty Daily Bias
Bank Nifty daily bias has reached the top of the grey box on daily chart and time to be cautious on longs, as grey bar have started forming on daily aggressive shorts can be take with SL @ 17700
Bank Nifty Gann Dates
As per time analysis 19 November is Gann Turn date , except a impulsive around this date. Last week we gave 11 November is Gann Turn date but Nifty did not show expected move.
Bank nifty is now entering in resistance zone of 17650/17700 odd levels, unable to cross Fibo Fan high can see profit booking.
Bank Nifty Weekly
Bank Nifty Weekly chart As per AF bank nifty target is also done,so now its time to book profit. Also we will be entering negative cycle as per time analysis in coming 2 weeks.
Bank Nifty Monthly
Bank Nifty is also approaching the trendline on upside signalling bulls needs to be cautious now.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:17516
Bank Nifty Resistance:17646,17776,17906
Bank Nifty Support:17386,17256,17126 and 16996
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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