Last Week we gave Chopad Level 19000 Bank Nifty gave long entry on Monday did 1 target of Buy and gae multiple entry on short side which did 1 target on downside . Lets analyze how to trade in coming week.
Bank Nifty Hourly
As discussed in last Analysis 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.
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.
Bank Nifty Harmonic
As discussed in last Analysis Shark Pattern target come around 18470 if 19030 is not crossed. Close above 19030 pattern is invalidated.
Bank Nifty was unable to close above 19000, and did made low of 18550. Coming week if we hold 18550 we can see move towards 19000/19250.
As discussed in last Analysis Coming week 18750 will play crucial role, Holding the same can see move towards 19230/19500. Bearish on close above 18750.
18750 broken and 200 point move done, Coming week Bullish on close above 18700 for target of 18920/19140. Bearish on close below 18490 for move towards 18280/18070.
Bank Nifty Supply and Demand
Bulls need to hold above 18768 for next move towards 19203/19500 Bearish below 18490 for 18280/18150.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 28 July is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 263 points closing @18690 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.
Low made was 17550. Now bulls need a close above 18750 for move till 19000/19500.
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:18800
Bank Nifty Resistance:18950,19100,19300
Bank Nifty Support:18600,18450,18200
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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