Last week we gave Nifty Chopad level of 18556 .Bank Nifty did 1 target on downside and 2 target on upside rewarding chopad followers by 400 points. Lets analyze how to trade Bank Nifty next week.
Bank Nifty Hourly
Bank Nifty took support @ its 21 HEMA, holding the same bank nifty will bounceback to new high, any break below 18700 can see downmove till 18633.
Bank Nifty Hourly EW Daily
Hourly Elliot wave analysis is shown,18700 will play crucial role next week.
Bank Nifty EW Daily
Long term Elliot wave is drawn on Bank Nifty which gives target of 19819, sol dips till 18500/18400 should be bought into.
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 12 December -1 day is Gann Turn date , except a impulsive around this date. Last week we gave 04 December is Gann Turn date but bank nifty did not show the expected move.
Bank nifty is now entering in resistance zone of 19000 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 18900/19000 odd levels as shown in above chart.New time analysis cycle will start so price action will be closely watched.
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:18816
Bank Nifty Resistance:18946,19076,19206
Bank Nifty Support:18686,18556,18296
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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