Last Week we gave Chopad Level 18099 Bank Nifty opened way above our chopad levels, Risky traders who would have taken long got rewarded as it did all 3 targets, but most of traders would have stayed out as it never touched chopad levels. As we always says NO level no trade and wait for next opportunity . Lets analyze how to trade in coming week.
Bank Nifty Hourly
Coming week, 19000 needs to be watched closing above it 19230/19500 can be seen quickly as we see a breakout of the channel. Bearish below 18750 for short term target of 18500/18230.
Bank Nifty Harmonic
Shark Pattern target come around 18470 if 19030 is not crossed. Close above 19030 pattern is invalidated.
As discussed in last analysis Now for coming week 17910/18100 will play crucial role above 18100 that 18260/18490/18758 are target.Close below 17910 can see fall till 17700/17450.
All Target done, Coming week 18750 will play crucial role, Holding the same can see move towards 19230/19500. Bearish on close above 18750.
Bank Nifty Supply and Demand
Bulls need to hold above 18768 for next move towards 1923/19500 Bearish below 18750 for 18490/18280.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 18/22 July is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 937 points closing @18953 closed above the upper end of the AF line, As discussed in last analysis Bulls need a close above 18100 for target of 18500/18880, Bears need close below 17950 for fast move towards 17700/17500.
High made was 19016, Now bulls need a close above 19000 for move till 19230/19500.
Bank Nifty Monthly
Monthly chart support at 38.2 % fibo ratio and resistance at 23.6%
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:19000
Bank Nifty Resistance:19140,19360,19510
Bank Nifty Support:18750,18500,18280
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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