Last Week we gave Chopad Level 15710 Bank Nifty gave Long Entry on Wednesday and did 1 target on upside , Lets analyze how to trade Bank Nifty in coming Week.
Bank Nifty Hourly
As discussed last week Bank Nifty held on to channel and above 21/34 ema, continuing bullish trend, Now close above 16000 required for next move till16339/16500.
Bank Nifty moved above 16000 on Wednesday and did 16282, Now for coming week 16350 needs to be watched as its channel top, crossing the same we are heading towards 16500/16900, else we will go down till 16000.
Bank Nifty Harmonic
As per CRAB pattern of 16300/16350 is not crossed we can correct all the way till 16000/15550.
Till closing above 16000 we can move towards 16500/16900
Bank Nifty Supply and Demand
Close above 16188 is required for move towards 16800/17000.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 05/07 April is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 287 points closing @16174 closed above its middle line of AF for 3 week. This analysis still holds true Bank nifty needs to close above 16000 on weekly basis for next move till 16800. Else will see correction till 15500-15300.
Bank Nifty Monthly
Monthly chart will take support of 61.8 %,and resistnace 50% as shown above.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:16200
Bank Nifty Resistance:16350,16500,16800
Bank Nifty Support:16000,15700,15530
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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