Last week we gave the Chopad level of 19596 Bank Nifty achieved 3 target on downside .Lets analyze how to trade next week.
Bank Nifty Hourly
Bank Nifty took support at the trendline @18750 and closed near it. 2 Demand zones are marked in above chart, 18500 and 18300 respectively. Break and close below 18750 can see bank nifty moving to these 2 mentioned levels.
Bank Nifty Hourly EW Daily
Hourly Elliot wave analysis is shown,18500 will play crucial role in coming week.
Bank Nifty Pyrapoint Indicator
As per Pyrapoint Box Bank Nifty is on verge of breaking blue line any break below it can see bank nifty going to 18500/18222.
Bank Nifty Channel
On the verge of breaking the channel will 100 DMA will come to rescue for bulls again ?
Bank Nifty Harmonic
Bank Nifty is on the verge of forming Bullish Butterfly pattern price action near 18500 should be watched holding the same bullish move can be seen as per this pattern.
Bank Nifty EW Daily
Again dips near 18500/18200 should be bought into near quality banking stocks.
Bank Nifty Market Profile
As per Market Profile 18500 and below that 18184 are 2 important support and above 18787 and 19033 are the resistance.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 16/20 March is Gann Turn date , except a impulsive around this dates. Last week we gave 10/12 Mar Day and Bank Nifty saw a volatile move on both the days .
Now near support of Fibo Fans unable to hold the same 18500/18222 are levels we can see.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 968 points closing @18779 forming a Evening Star candlestick pattern, and breaking the middle line of Andrew Pitchfork and closing near its 20 WSMA @18880 which has given support in past 3 times, Next week we need to close above 20 WSMA. .Also we are entering a new time cycle from 09March-27 March which will be highly volatile so trade cautiously.
Bank Nifty Monthly
Bank Nifty On Monthly chart prices got reject on higher end of Fibonacci channel now approaching the demand zone of 18500/18222
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:18686
Bank Nifty Resistance:18816,18946,19076
Bank Nifty Support:18556,18426,18296
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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