Bank Nifty Weekly Forecast for April Expiry

By | April 23, 2017

Last Week we gave Chopad Level 21620 Bank Nifty  gave Long entry and did 1 target on upside and made high of 21947 missing the 2 target of 22000. Shorts were initiated on Wednesday which did 1 target on downside and missed 2 target of 21350 as low made was 21390. Lets see how to trade in coming week.

Bank Nifty Hourly

 

As discussed in last analysis For coming week 21450-21500 held we will move towards 22000. Bearish below 21450 for move towards 21250/21000.

HIgh made was 21947 so almost did 22000. Now for coming week 21350 needs to be watched, above it move towards 21600/21900. Below 21350 move towards 21000.

Bank Nifty Harmonic Pattern

 

Holding 21350 we can see another upmove towards 22000.

Supply and Demand Analysis

 

21350-21370 imp Support zone.

Gann Angles

 

bulls need to hold 21320-21350 for a move till 21800/22000

Bank Nifty Gann Dates

Bank Nifty As per time analysis 26 April is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was negative week, with the Bank Nifty down by 135  points  closing @21551 touching the upper end of quadrant as shown in above chart. Now for coming week bulls need to hold 21300-21350 range for the upmove towards 21800/2200. Bears below 21300 can push bank nifty to 21000.

Bank Nifty Monthly

Monthly chart needs to hold 21000, Bulls to continue have upperhand towards 22000

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:21580

Bank Nifty Resistance:21700,21870,22000

Bank Nifty Support:21420,21300,21120

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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