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.
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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