Last Week we gave Chopad Level 21580 Bank Nifty gave Long Entry on Monday did almost 3 target on upside, High made was 21011 our final target was 21050. Lets analyze how to trade Bank Nifty as we start March Series.
Bank Nifty Hourly
As discussed in last analysis Now Bulls should hold 20500/20600 range for a move towards 21000/21500. Bearish below 20350 for a move towards 20000/19750.
Low made was 20472 so traders got entry at 20500 and ride the move till 21000. Now for coming week 20750-20800 should be held for a move back till 21200/21450. Bearish below 20750 for a move till 20500/20200.
Bank Nifty Harmonic Pattern
As discussed in last analysis 21000 done now holding 20500 move towards 21500/21979.
For coming week till 20750 is held we can move all the way till 21200/21500.
Supply and Demand Analysis
Now bulls should hold 20800 for a move towards 21200-21500.
As discussed in last analysis Now Bulls need a close above 21000 for a fast move towards 22000.
Bulls need close above 21000 for a move towards 21500/22000/23000.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 27 Feb/03 March is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 325 points closing @20875 .As discussed in last analysis Close above 20500 will be very bullish in extreme short term and can scale towards new high. Strong support at 19500. Low made was 20472 and zoomed up to touch 21000. Now for coming week holding 20750-800 range we can see another up move towards 21200-21500. Bearish below 20750 for a move towards 20500/20280. Last cycle turned out to be another bullish cycle, We are starting new time cycle from 27 Feb-07 March with traders should look at 20750 on downside for a bearish move and 21000 on upside for bullish move.
Bank Nifty Monthly
Monthly chart needs to hold 20000, Bulls to continue have upperhand towards new life high.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:20920
Bank Nifty Resistance:21111,21320,21500
Bank Nifty Support:20750,20500,20250
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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