Last week we gave the Chopad level of 18036 Bank Nifty achieved 3 target on upside made low of 18809 and Chopad level was 18036.Lets analyze how to trade next week as we have RBI policy on Tuesday.
Bank Nifty Hourly
Bank Nifty on hourly charts entered in Demand zones and reacted sharply on upside.Now resistance zone marked in above chart will become support.
Bank Nifty Hourly EW Daily
Hourly Elliot wave analysis is shown,18660 will play crucial role in coming week.
Bank Nifty Pyrapoint Indicator
This is what we wrote last week As per Pyrapoint Box Bank Nifty held its 180 degree of pyrapoint holding the same counter trend rally 18500 is expected.
Now 135 degree @ 18400 will act as strong support.
Bank Nifty Channel
Entered back in channel but Unable to cross 100 DMA.
Bank Nifty Harmonic
Almost done with one round of rise can see pullback if 18700 is not crossed.
Bank Nifty EW Daily
Traders who bought dips near 17500/17700 should have been rewarded.
Bank Nifty Market Profile
As per Market Profile 18800 should be watched in coming week below that 18392 /18071 is short term target. Above it can move towards 19000/19500.
Bank Nifty Daily Gunner
On Daily chart near important Gunner support , which showed bounceback and now is entering a new quadrant in coming week.
Bank Nifty Gann Dates
Nifty As per time analysis 06 April/08 April is Gann Turn date , except a impulsive around this dates. Last week we gave 30 March/01 April Day and Nifty saw a volatile move on both the days .01 April saw a big rally.
Fibonacci technique
Fibonacci Fans
Close above its 50 % retracement as per FF.
38.2 % number is 18700 should be watched.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 573 points closing @18617 , entering the support line of Andrew Pitchfork and closing below its 20 WSMA @18758 which has given support in past 3 times.Entering a new quadrant next week.
Bank Nifty Weekly Gunner
Bank Nifty Monthly
Bank Nifty On Monthly chart prices got reject on higher end of Fibonacci channel now approaching the 61.8% retracement.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:18686
Bank Nifty Resistance:18816,18946,19206
Bank Nifty Support:18556,18296,18166
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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Can u pls advice me with expected expiry level for april series for bank nifty spot?
Thanks Bramesh for detailed Bank Nifty analysis from all aspects. 18800 Will be important level to watch it seems.
Thank you sir