Last Week we gave Chopad Level 25000 Bank Nifty gave Short Entry as per Chopad Level Monday as High was 24995 and did 1 target on downside, Longs were triggered on 31 Oct before the big gap up we saw and did all 3 Targets on upside, so good week for Chopad followers. Lets see How to trade Bank Nifty in week.
Bank Nifty Harmonic Pattern
As discussed in Last analysis Shark pattern target for this move is 25377.
25377 done now waiting for ABCD pattern target of 25813
Supply and Demand Analysis
Self Explanatory chart..
As discussed in Last analysis Bank Nifty Bulls were 3 time lucky as we bounced again from gann angle and saw a big boucneback, Now Bulls need close above 25200 for a move towards 26000.
Bank Nifty moved from 1 gann angle to another and we were able to capture the whole move,Now close above 25700 can trigger fast rise towards 26200/26500. Bearish below 25200 for a move towards 24800/24476.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 07 Nov/10 Nov is Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 811 points closing @25650 ,As discussed in Last analysis Bearish below 24800 for a move till 24476/24000. Bullish above 25000 for a move towards 25200.
Bulls did the target using 02 Time cycle date in there favor. Next week 07 Nov is important time cycle date. As we near important gann angle resistance ,Now close above 25700 can trigger fast rise towards 26200/26500. Bearish below 25200 for a move towards 24800/24476.
Bank Nifty Monthly
Bank Nifty Bulls now need to close above 25200 for a move towards 26000. Bearish below 24800 for a move towards 24476/24000.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:25700
Bank Nifty Resistance:25850,25960,26150
Bank Nifty Support:25500,25350,25100
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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