Bank Nifty Weekly Forecast for 02-05 May

By | May 1, 2017

Last Week we gave Chopad Level 21580 Bank Nifty  made low of 21578 gave Long entry and did all 3 target on upside by Tuesday thus thus rewarding disciplined Chopad  Traders. Lets see how to trade in coming week as we approach the crucial trading month MAY.

Bank Nifty Hourly

 

As discussed in last analysis Now for coming week 21350 needs to be watched, above it move towards 21600/21900. Below 21350 move towards 21000.

Hourly target done. Now bulls holding 22222 can see move towards 22500/22800.

Bank Nifty Harmonic Pattern

 

As discussed in last analysis Holding 21350 we can see another upmove towards 22000.

22000 done now now holding 22000 move towards 22550/22582.

Supply and Demand Analysis

 

21450-21500 imp Support zone for next round of upmove.

Gann Angles

 

bulls need to hold 21800 for a move till 22500/22800

Bank Nifty Gann Dates

Bank Nifty As per time analysis 02/06 May is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was Positive week, with the Bank Nifty up by 806 points  closing @22358 touching the upper end of quadrant and closing above it as shown in above chart. Now for coming week bulls need to hold 22000-22100 range for the upmove towards 22500/22800. Bears below 22000 can push bank nifty to 21850/21500.

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:22400

Bank Nifty Resistance:22620,22750,22910

Bank Nifty Support:22220,22000,21850

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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