Last Week we gave Chopad Level 18800 Bank Nifty gave long entry on Monday did 2 target om Upside. Lets analyze how to trade in coming week.Lets analyze How the market will fair in August which historically have favored bears and passing GST bill next week.
Bank Nifty Hourly
As discussed in last Analysis Coming week 18550-500 range which is middle line line of channel, holding the same we can see bounceback towards 19000. Break of 18500 can see move towards 18264.
Coming Week break of 19000 can again seen move towards higher end of channel at 19500.
Bank Nifty Harmonic
As discussed in last Analysis Coming week if we hold 18550 we can see move towards 19000/19250.
19000 done, Now closing above 19000 can see 19250/19300.
As discussed in last Analysis Coming week Bullish on close above 18700 for target of 18920/19140. Bearish on close below 18490 for move towards 18280/18070.
Coming week Holding 18888 bank nifty can break 19230/19500 congestion zone.
Bank Nifty Supply and Demand
Bulls need to hold above 19230 for next move towards 19648/19888 Bearish below 18750 for 18150/17910.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 03/05 Aug is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 262 points closing @18950 closed above the upper end of the AF line, As discussed in last analysis .Now bulls need a close above 18750 for move till 19000/19500.
19000 done now bulls need a weekly close above 19000 for move till 19580/19888
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:19006
Bank Nifty Resistance:19140,19360,19580
Bank Nifty Support:18888,18650,18400
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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