Last Week we gave Chopad Level 14000 Bank Nifty short initiated below chopad levels on Wednesday got stopped out but Longs Triggered did 2 target by Friday .Lets analyze how to trade Bank Nifty in coming Expiry week.
Bank Nifty Hourly
As discussed last week Now in coming week 14216 needs to be watched which is 270 degree, closing above it can see move towards 14500/14800.
Bank Nifty made high of 14602, Now in coming week 14400 should be watched closing above it can see Bank Nifty towards 14978 which is 180 degree gann angle, Unable to do so back to 14000/13800.
Bank Nifty Harmonic
As discussed last week Bank Nifty has completed its black swan harmonic pattern so closing above 14150, can see move till 14251/14524. Both target done
Now close above 14524 can see move towards 14745/14965.
Bank Nifty broken the gann angles and now support lies in area of 13500-13600, resistance in zone of 14500-14700.
Bank Nifty Supply and Demand
Self Explanatory Chart
Bank Nifty Gann Dates
Bank Nifty As per time analysis 24 Feb is Gann Turn date , except a impulsive around this dates.
Fibo levels to be watched in coming week, 14400/14587/14771 and 14143
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 372 points closing @14344 unable to close above the lower line of AF closed just near its 200 W SMA, Close above 14558 can see fast move of 500-600 points.
Bank Nifty Monthly
Monthly chart took support at 23.6%,Holding it bank nifty can revisit 15000/15245 levels.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:14400
Bank Nifty Resistance:14524,14666,14989
Bank Nifty Support:14280,13960,13810
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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