Last Week we gave Chopad Level 15650 Bank Nifty opened at 15565 below chopad levels and did all target in downside.Lets analyze how to trade Bank Nifty in coming week.
Bank Nifty Hourly
Bank Nifty broke the 180 degree support and quickly saw fall till 225, did not close below the support and again gave the recovery, and heading towards 180 @15300/15373.
Bank Nifty Harmonic
As discussed last week Bank Nifty can see rise till 16019 as per ABCD pattern. ABCD pattern got invalidated once Bank Nifty broke the 15101 levels.
Coming week we need to watch 15250 levels for a move till 15550/15800 as per Shark pattern which got activated near 14751 as we have been discussing in our daily post.
Bank Nifty took exact support near the 3×1 line as shown above and gave the expected recovery from 15760 levels, Gann Angles are shown above close above 15713 can see move towards 16000/16400.
Bank Nifty Supply and Demand
Self Explanatory Chart
Bank Nifty Gann Dates
Bank Nifty As per time analysis 08/10 Feb is Gann Turn date , except a impulsive around this dates.
Fibo levels to be watched in coming week, 15218/15565/15819/15914.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 360 points closing @15162 heading towards median line,forming a Hammer candlestick also unable to close above its 20/50 WSMA and 100 WSMA. Resistance on upside comes at middle level of AF line @15875 and gann resistance at 15914.
Bank Nifty Monthly
Monthly chart broke support at 38.2%,closing above it can see Feb month out of hands of bears.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:15170
Bank Nifty Resistance:15300,15565,15713
Bank Nifty Support:15050,14890,14760
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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