Last Week we gave Chopad Level 21428 Bank Nifty did not give the entry as per chopad levels hence traders trading on chopad levels did not got the entry. Lets analyze how to trade next week as we enter a crucial time cycle 20-29 March for bank nifty, expect 500-800 points move in next 2 weeks.
Bank Nifty Hourly
As discussed in last analysis Hourly chart was near the support line as shown in above chart and should see impulsive move towards 21500.
Bank Nifty traded in the middle of the channel suggesting till the Blue line is held we can continue up move towards 21500. Support at 21000.
Bank Nifty Harmonic Pattern
As discussed in last analysis Waiting for the target of abcd pattern on opening tommrow.
Bank Nifty still not did the target of 21407. Hopefully should be done next week.
Supply and Demand Analysis
As discussed in last analysis Low made was 20423, Bulls held on to 20450 and will be rewarded handsomely in coming week.
Bulls now need to hold on weekly closing basis for the upmove to continue till 21500/21800/22000.
Nifty bulls now need to hold 21000 and close above 21300 for a move till 21500/21800/22000.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 21/24 March March is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 447 points closing @21175 . Next week is very crucial as per time cycle with 21/24 march being a crucial days. Close above 21300 can see fast move towards 21500/21800. Support at 21000.
Bank Nifty Monthly
Monthly chart needs to hold 20500, Bulls to continue have upperhand towards 22000
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:21201
Bank Nifty Resistance:21320,21470,21600
Bank Nifty Support:21050,20901,20750
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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