Last week we gave the Chopad level of 19986 Bank Nifty achieved 3 target on upside and 2 target on downside, We have inflation and CPI data coming on 12 March which will be closely watched by market.Lets analyze how to trade next week.
Bank Nifty Hourly
Bank Nifty took support at the trendline @18400 and bounced back strongly closing above 21/34 HEMA. Now 19400 should be closely watched on downside and 19850 on upside. brakout/breakdown below or above this range.
Bank Nifty Hourly EW Daily
Hourly Elliot wave analysis is shown,20541 is end of a wave and now we are in corrective wave, 19450 will play crucial role in coming week.
Bank Nifty Gann Box
As per Gann Box Bank Nifty is entering 2X1 quadrant in green box suggesting volatile move are on cards.
Bank Nifty Harmonic
Bank Nifty EW Daily
We have been adovating the same in past week analysis This current dip should be used to start taking exposure to banking stocks as still higher targets are pending. Hope traders are rewarded.
Bank Nifty Gann Dates
Nifty As per time analysis 10/12 March is Gann Turn date , except a impulsive around this dates. Last week we gave 04 Mar Day and Nifty saw a volatile move on both the days .
Unabl to cross the higher end of FF back to lower end and consolidating in the range.
Bank Nifty Weekly
Bank Nifty Weekly chart from past 3 weeks is trading around the middle line of Andrew Pitchfork and as per Harmonic pattern also moving in sideways zone as Grey Candles are forming in Weekly chart . 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 Weekly Chopad Levels
Bank Nifty Trend Deciding Level:19596
Bank Nifty Resistance:19856,19986,20116
Bank Nifty Support:19466,19206,18946
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.
Want to see post in your Inbox,Register by adding your email id in Post in your Inbox section
Follow on Facebook during Market Hours: https://www.facebook.com/pages/Brameshs-Tech/140117182685863