Last week we gave the Chopad level of 17050 Bank Nifty gave long short on Monday opening and achieved 1 target on downside and Gave Long Entry on Friday and did 2 target on upside on the same day,Lets analyze how to trade Bank Nifty in coming week.
Bank Nifty Hourly
Bank Nifty has been trading in the pyrapoint box from past many session as show in above box, Bank Nifty is approaching the higher end, Will it be able to break this time above 90 degree angle or continue to trade in range.
Bank Nifty Harmonic
Bank Nifty is forming BAT pattern whose target is around 17600 and Also ABCD pattern for which 1 target will come at 17600. Support at 17250.
Gann Angles with medium term view is shown above, gann angles support nifty has been taking and boucing as expected. 18000 is where 2 angles are crossing so need to be extra cautious near than range if and when it comes.
Bank Nifty Supply and Demand
Self Explanatory Chart
Bank Nifty Gann Dates
Bank Nifty As per time analysis 02 Dec is Gann Turn date , except a impulsive around this dates. Last week we gave 24/27 Nov Bank Nifty saw a volatile move .
Fibo levels to be watched in coming week, 17485/17594
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 315 points closing @17370 also unable to close above its 20/50 WSMA,for coming week. Bank Nifty took support at median level of AF line from past 2 weeks and holding the same heading towards the upper end again.
Bank Nifty Monthly
Monthly chart unable to close above @ 61.8 and unable to break 50% suggesting all rallies are sold into.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:17400
Bank Nifty Resistance:17510,17650,17820
Bank Nifty Support:17290,17170,17000
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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