Last week we gave the Chopad level of 18296 Bank Nifty achieved 3 target on downside rewarding discipline chopad followers .Lets analyze how to trade next week.
Bank Nifty Hourly
Bank Nifty entered in demand zone and saw a strong bounceback. Till Holding below 21/34 EMA @bears have upper hand.
Bank Nifty Hourly EW Daily
Hourly Elliot wave analysis is shown,2 possibility have been discussed.
Bank Nifty Pyrapoint Indicator
Traded well in the range of Pyrapoint Analysis Resistance @180 degree line , support at 270 degree line.
Supply Demand Zone
Self Explanatory chart depicting Supply and Demand zone.
Bank Nifty Channel
200 DMA is held so bulls have upper hand.
Bank Nifty Harmonic
Next round of upmove above 17800 for 18200/18400.
Bank Nifty EW Daily
Use dips to keep accumulation quality banking stocks.
Bank Nifty Market Profile
As per Market Profile 17900 should be watched in coming week below that 17500/17200 is short term target. Above it can move towards 18200/18400
Bank Nifty Daily Gunner
On Daily chart near important Gunner resistance @1*2 line,unable to cross the same can see deeper fall.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 11 May/14 May is Gann Turn date , except a impulsive around this dates. Last week we gave 04 /07 May and Bank Nifty saw a volatile move on both the days .
Close near its 38.2 % retracement as per FF
23.6/38.2 % number is 1823 should be watched.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 541 points closing @17796 , closing at the extended support line of Andrew Pitchfork and closing below its 20 WSMA and holding 50 WSMA This is what we discussed last week .As per gunner heading towards 1*2 gann line if red arc @18450 is not crossed. Took exact support at 1*2 gann line
Bank Nifty Weekly Gunner
Bank Nifty Monthly
Bank Nifty On Monthly chart prices got reject on higher end of Fibonacci channel now held the 78.6% retracement.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:17906
Bank Nifty Resistance:18036,18296,18556
Bank Nifty Support:17776,17516,17256
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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