Last Week we gave Chopad Level 19054 Bank Nifty gave Short entry on Monday which did 1 target on downside, Low made was 18839 near 1 target of 18900, Shorts got stopped out on Wedenday and Long triggred did 2target on Upside and missed 2 target by 43 points . Lets analyze how to trade in coming expiry week.
Bank Nifty Hourly
As discussed in last analysis Coming Week break of 19000 can again seen move towards higher end of channel at 19500.
High made 19457 now close above 19500 can move towards 19766/20000.
Bank Nifty Harmonic
As discussed in last analysis Holding 18700 Bank Nifty is heading towards 19332/19600 as per Butterfly pattern.
19332 done and waiting for 19600, On medium term As per ABCD holding 18490 bank nifty target comes at 20665.
As discussed in last analysis Coming week Bullish on close above 19000 for target of 19230/19500. Bearish on close below 18490 for move towards 18280/18070.
19230 done now waiting for 19500 to be done, close above 19500 as per gann angles and lead to 20500/21000 in bank nifty.
Bank Nifty Supply and Demand
Bulls need to hold above 19229 for next move towards 19843. Bearish below 18750 for 18150/17910.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 22/24 Aug is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 451 points closing @19414 closed above the upper end of the AF line, As discussed in last analysis . 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:19500
Bank Nifty Resistance:19634,19850,20001
Bank Nifty Support:19350,19200,19000
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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