Last week we gave Nifty Chopad level of 17126 .Bank Nifty did 1 target on downside and all 3 target on upside rewarding chopad followers by 500 points. Lets analyze how to trade Bank Nifty going in RBI event.
Bank Nifty Hourly
Bank Nifty Trendline resistance comes @ 18620, Bank Nifty can rise all the way to 18700/18000 before any profit booking comes in.
Bank Nifty Hourly EW Daily
Bank Nifty EW Daily
Bank Nifty daily chart is showing impulsive 5 wave and have moves above 18000 now can continue till 18700 where we will review it once again.
Bank Nifty Daily Bias
Bank Nifty daily bias has turned to Buy the Dips for next week.
Bank Nifty Gann Dates
As per time analysis 04 December +/-1 day is Gann Turn date , except a impulsive around this date. Last week we gave 25 November is Gann Turn date and Nifty showed expected move.
Bank nifty is now entering in resistance zone of 18700 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 can now exetend to 18700/19000 odd levels as shown in above chart.
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:18556
Bank Nifty Resistance:18686,18816,19076
Bank Nifty Support:18296,18036,17776
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.Please also read the detailed Disclaimer mentioned in the Right side of Blog.
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