Last week we gave the Chopad level of 17170 Bank Nifty gave Buy opputunity @17170 for Chopad Followers and did all 2 targets on Upside and again gave Shoring Opportunity did 2 target on downside thus rewarding Chopad Followers by 800 points. Lets analyze how to trade market in coming week where we have RBI policy on 29 Sep.
Bank Nifty Hourly
Bank Nifty hourly chart is again forming triangle height being 912 points, target prices are mentioned in above chart for both breakout and breakdown.
Bank Nifty Pyrapoint Indicator
Resistance@ 180 degree line and Support @225 ,pyrapoint also suggests big move is round the corner.
Gann Box Analysis
Bank Nifty needs to wait for 2×1 gann line breaking the same not good sign for bulls.
Bank Nifty Supply and Demand
Bank Nifty 17060 is important level to watch breaking the same bank nifty will move towards 16800/16500/16300 in short term.Breaking above 17589 can see mvoe towards 17820 and 18050 in short term
Bank Nifty Gann Dates
Bank Nifty As per time analysis 30Sep is Gann Turn date , except a impulsive around this dates. Last week we gave 21 September/24 Sep Bank Nifty saw a volatile move .
Unable to cross 61.8 % fibo fans not a good sign for bulls
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 212 points closing @17196 . For coming week as AF median line is getting resisted unable to cross the same bank nifty will head towards 16800/16500 in short term.Holding the same 17800/18050 on cards.
Bank Nifty Monthly
Monthly chart get resisted @ 61.8 @ around 17600
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:17220
Bank Nifty Resistance:17500,17640,17900
Bank Nifty Support:17000,16750,16500
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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