Last Week we gave Chopad Level 23410 Bank Nifty gave Long on Monday which did 2 Chopad Target by Friday thus rewarding disciplined Chopad Traders, so whipsaw we saw last week were duly handled were last week Chopad Levels. Lets see how to trade in coming week.
Bank Nifty Hourly
As discussed in last analysis Coming Week As we have RBI Policy Holding 23300 we can scale towards 23762/24058. Bearish below 23300 for a move towards 23000/22800.
Low made 23349 so bulls protected 23300 and rallied towards 23700. Now coming week 23470-23500 should be held for next upmove towards 23900/24120. Bearish below 23450 for a move towards 23300.
Bank Nifty Harmonic Pattern
Holding 23470-23500 we can march towards 24058
Supply and Demand Analysis
Bulls should hold 23500-23460 range for the next round of upmove.
As discussed in last analysis bulls need to hold 23000 for a move till 23484/24000.
23710 done now waiting for 23762 and 24100.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 12/16 June is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was Positive week, with the Bank Nifty up by 315 points closing @23690 closing above upper end of quadrant .As discussed in last analysis As per time cycle Low made on 01 June 23224 is very important holding the same we can scale towards 23762/24111 till 08-09 June.
Low made last week was 23349 so Bulls protected the Cycle low of 23224 and saw move towards 23710. Now as per new time cycle low of 23476 is important holding the same we can see next upmove towards 23900/24120. Bearish below 23470 for a move towards 23300.
Bank Nifty Monthly
High made was 23708 now holding 23000 we can see move till 24144.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:23710
Bank Nifty Resistance:23820,23930,24120
Bank Nifty Support:23610,23580,23400
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.
Want to see post in your Inbox,Register by adding your email id in Post in your Inbox section
Follow on Facebook during Market Hours: https://www.facebook.com/pages/Brameshs-Tech/140117182685863
Follow on Twitter during Market Hours: https://twitter.com/brahmesh