Last Week we gave Chopad Level 25700 Bank Nifty gave Short Entry as per Chopad Level Monday as High was 25695 and did 3 target on downside, so good week for Chopad followers. Lets see How to trade Bank Nifty in week.
Bank Nifty Harmonic Pattern
Waiting for ABCD pattern target of 25963 holding 25350.
Supply and Demand Analysis
Self Explanatory chart..
As discussed in Last analysis Now close above 25700 can trigger fast rise towards 26200/26500. Bearish below 25200 for a move towards 24800/24476.
25695 high so bulls were not able to break the gann angle and saw pullback towards 25120, For coming week bulls should hold 25350 for another attempt to break the higher end of gann angle above 25700.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 14/15 Nov is Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 151 points closing @25398 ,As discussed in Last analysis 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.
25695 was high made and we saw decent fall till 25120 but failed to do downside target of 24800. 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 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:25550
Bank Nifty Resistance:25700,25850,26001
Bank Nifty Support:25400,25350,25100
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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