Bank Nifty Weekly Analysis for 20-24 Nov

By | November 19, 2017

Last Week we gave Chopad Level 25550  Bank Nifty gave Short Entry as per Chopad Level Monday did 2 target on downside, so good week for Chopad followers.Longs were not triggered as bank nifty opened with gap up on Friday. Lets see How to trade Bank Nifty in week as we approach the crucial trend change date of 22 Nov.

 

 

Bank Nifty Harmonic Pattern

 

As discussed in Last analysis Waiting for ABCD pattern target of 25963 holding 25350.

ABCD Pattern target done.

 

Supply and Demand Analysis

 

Self Explanatory chart..

Gann Angles

As discussed in Last analysis For coming week bulls should hold 25350 for another attempt to break the higher end of gann angle above 25700.

Thursday bank Nifty closed 25350 on Thursday and single day did 25700. Now bulls should hold 25550-600 range for the upmove to continue.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 22 Nov is Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 229 points  closing @25728 ,As discussed in Last analysis   Next week Bulls need to hold 25350 for uptrend to continue else bears can become active below 25200 and see fast fall towards 25000/24800.

Bank Nifty made low of 25166 but was not able to close below 25200 on any given day, Thursday bank Nifty closed 25350 on Thursday and single day did 25700. Now For coming week 22 Nov is another major trend change date Bank Nifty bulls need to hold 25600-550 range for the upmove the continue. Bearish below 25500 for a move towards 25300/25150.

Bank Nifty Monthly

As discussed in Last analysis  Bank Nifty Bulls now need to close above 25200 for a move towards 26000.  Bearish below 24800 for a move towards 24476/24000.

Bulls almost did the target of 25924. Now bulls need to hold 25500 for the next target of 26300/26800.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:25700

Bank Nifty Resistance:25850,26020,26250

Bank Nifty Support:25570,25350,25150

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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