Last week we gave the Chopad level of 19076 Bank Nifty did 3 target on downside and got stopped on upside. Lets analyze how to trade market in Expiry week as we have many index heavyweight declaring results.
Bank Nifty Hourly
Bank Nifty need to sustain above 4×1 line for bulls to act else 18400/18300 can be seen.
Bank Nifty Pyrapoint Indicator
Bank NIfty has been trading in the range of 135 and 90 degree pyrapoint angle, 90 degree has proved to be an elusive resistance from past 2 months.
Supply Demand Zone
Demand and supply zones are shown above,Entered the supply zone,and again unable to cross
As per gann box unable to hold 50% green line will have bearish implication in short term.
Bank Nifty EW Daily
Use dips to keep accumulation quality banking stocks. Long term targets are still pending as shown above.
Who bought banking stocks should have been rewarded handsomely, profit booking is always advised.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 27/31 July is Gann Turn date , except a impulsive around this dates. Last week we gave 24/27 July Nifty saw a volatile move .
38.2% retracement @18600 and 50%@ 18858 should be closely watched for further price action.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 458 points closing @18635 , price again held its median of AF line. Holding the same it can move to 19000 zone target as per AF.
Bank Nifty Monthly
Again Monthly unable to cross Breakout level.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:18680
Bank Nifty Resistance:18800,18985,19150
Bank Nifty Support:18580,18460,18300
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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