Last Week we gave Chopad Level 25700 Bank Nifty gave Long Entry as per Chopad Level Monday did 1 target on Upside, Shorts were also triggered in intraday but were stopped out,so neutral week for Chopad followers. Bank Nifty for a single day was not able to close below the Chopad level of 25700. Lets see How to trade Nifty in week as we approach the November Expiry.
Bank Nifty Harmonic Pattern
As discussed in Last analysis Waiting for ABCD pattern target of 25963 holding 25350.
Waiting for ABCD Patter target of 25963 to come.
Supply and Demand Analysis
Self Explanatory chart..
As discussed in Last analysis Now bulls should hold 25550-600 range for the upmove to continue.
Low made was 25620, and the uptrend continues.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 27/30 Nov is Turn date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 51 points closing @25779 ,As discussed in Last analysis 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.
Low made was 25620 and uptrend continues. Now coming week 27 Nov is another important trend change date. Till 25700 is held bulls are on upper hand and can see rally till 25920/26064. Bearish below 25620 for a move towards 25500/25370.
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:25800
Bank Nifty Resistance:25920,26064,26250
Bank Nifty Support:25666,25510,25400
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.
Want to see post in your Inbox,Register by adding your email id in Post in your Inbox section
Follow on Facebook during Market Hours: https://www.facebook.com/pages/Brameshs-Tech/140117182685863
Follow on Twitter during Market Hours: https://twitter.com/brahmesh