Bank Nifty Weekly Forecast for Aug Expiry

By | August 27, 2017

Last Week we gave Chopad Level 24100 Bank Nifty gave Short  Entry on Monday got 1 target on downside missed second target by 30 points and Long on Wednesday  did 2 target on upside,so good week for Chopad followers.Lets see How to trade Bank Nifty in coming week with advent of new time cycle and Aug expiry.

 

Bank Nifty Hourly

 

Bank Nifty bears need to trade above 24200 for uptrend to continue till 23970/23755/23500. Bullish above 24480 for a move towards 24800/25000.

 

Bank Nifty Harmonic Pattern

Previous weeks BAT and ABCD pattern are still valid till we hold 24100, as we already did move till 24411. Now the was 24480 is acting as resistance bears will become active if we are unable to close above it and can push bank nifty towards 23800/23500 as per forming gartley pattern.

 

 

Supply and Demand Analysis

 

Self Explanatory chart..

Gann Angles

Bank nifty corrected from gann angle resistance as shown in above chart and now gann angle support at 23800 and bounce from that. Perfect trade in between gann angles. Above 24480 again a move towards 25000, Below 23100 move towards 23800/23500.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 28/31 Aug is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 199 points  closing @24274 closing below  the AF line, Bulls need a close above 24350 for a move towards 24500/24820/25000. Bearish below 24100 for a move towards 23950/23755/23540/23255/23000. New Time Cycle is starting from 28Aug-07 Sep

 

Bank Nifty Monthly

Now bears need close below 24000 for next move towards 23500/23000. Bullish above 24470 for a move towards 25000/25300.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:24336

Bank Nifty Resistance:24470,24650,24928

Bank Nifty Support:24180,23950,23755

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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