Last Week we gave Chopad Level 24850 Bank Nifty gave Long Entry on Monday got stopped out, short on Tuesday did the Third target by Thursday ,so good week for Chopad followers.Lets see How to trade Bank Nifty in coming week.
Bank Nifty Hourly
Bank Nifty bulls need to hold 24100 for uptrend to continue till 24300/24500. Bearish below 2400o for a move towards 23800/23500.
Bank Nifty Harmonic Pattern
If Bank Nifty hold 23800 for 1 week we can see fast move towards 25500/26000.
Supply and Demand Analysis
Self Explanatory chart..
Bank nifty corrected from gann angle resistance as shown in above chart and now gann angle support at 23600.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 17 Aug is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 841 points closing @23985 closing below the AF line, Bulls need a close above 24150 for a move towards 24500. Bearish below 24000 for a move towards 23610.
Bank Nifty Monthly
Now bears need close below 24000 for next move towards 23500/23000. Bullish above 24300 for a move towards 25000.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:24100
Bank Nifty Resistance:24200,24372,24532
Bank Nifty Support:24000,23820,24600
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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