Last Week we gave Chopad Level 16050 Bank Nifty did all target on downside by Thursday and did not close above the Chopad level during the whole week, such was the selling in Banking stocks.
Traders should work on New Year resolutions and use the below 2 post for planning a successful and profitable 2016.
Lets analyze how to trade Bank Nifty next week after seeing almost 1900 point fall in 2016.
Bank Nifty Hourly
Bank Nifty once 135 degree was broken fall like 9 pins and took support at 180, and also broke and closed below 180 in the fag end of week, Support is at 14850 where 225 degree angle lies.
Bank Nifty Harmonic
Bank Nifty can see fall till 14562 once it closes below 15000.
Bank Nifty Supply and Demand
Self Explanatory Chart
Bank Nifty Gann Dates
Bank Nifty As per time analysis 18/20 Jan is Gann Turn date , except a impulsive around this dates.
Fibo levels to be watched in coming week, 14994/14484
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 936 points closing @1506 breaking support of AF median line also unable to close above its 20/50 WSMA and 100 WSMA, Support at lower end of AF comes @14540
Bank Nifty Monthly
Monthly chart broke support at 38.2% and can had towards 23.6%.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:14994
Bank Nifty Resistance:15231,15420,15650
Bank Nifty Support:14860,14700,14520
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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