Bank Nifty Weekly Trend Analysis – Next Week Trend Targets

By | May 7, 2017

Last Week we gave Chopad Level 22400 Bank Nifty gave short entry on Tuesday@22400 made low of 22240 missed our 1 target of 22220 by 20 points, Bank Nifty opened gap up on Thursday gave long entry and rallied till 22850 in process doing 1 target on upside but failed to reach the 2 target of 22910 but still rewarding disciplined Chopad followers.Lets see how to trade in coming week.

Bank Nifty Hourly

 

As discussed in last analysis Now bulls holding 22222 can see move towards 22500/22800.

Low made was 22240 and bounced 600 points to did the target of 22800. Now for coming week 22500 will play crucial role holding the same move towards 23000 below its 22111.

Bank Nifty Harmonic Pattern

 

As discussed in last analysis  now holding 22000 move towards 22550/22582.

Both target done now holding 22500 next upmove towards 23000/23318.

Supply and Demand Analysis

 

22550-2249400 imp Support zone for next round of upmove else 22240/22111 on cards.

Gann Angles

 

bulls need to hold 22500 for a move till 23000/23111.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 08 May/11 May is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was Positive week, with the Bank Nifty up by 246 points  closing @22604 touching the upper end of quadrant and closing above it as shown in above chart. Now for coming week bulls need to hold 22500-22490 range for the upmove towards 22800/23000. Bears below 22500 can push bank nifty to 22150/22000.

Bank Nifty Monthly

As discussed in last analysis Monthly chart needs to hold 21000, Bulls to continue have upperhand towards 22000

22000 done not bulls need to hold 21500 for a move towards 23110/24144.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:22500

Bank Nifty Resistance:22650,22800,23000

Bank Nifty Support:22292,22150,22000

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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