Last Week we gave Chopad Level 25800 Bank Nifty gave Long Entry as per Chopad Level Monday did 1 target on Upside, Shorts were also triggered on Wednesday as close was 25796 and did all 3 target on downside so GREAT week Chopad followers. Bank Nifty Made the top of 28 Nov after our Trend Change date and gave big downfall on 30 Nov our Impulsive date as discussed. Lets see How to trade Bank Nifty in week as we approach the RBI Policy.
Bank Nifty Harmonic Pattern
As discussed in Last analysis Waiting for ABCD Patter target of 25963 to come.
High made was 25953 so pattern target done and what a fall after pattern target done. Fall can extend towards the levels mentioned in above chart.
Supply and Demand Analysis
Self Explanatory chart..
As per gann angle Break of 24950 for a move towards 24476.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 04 Dec is Turn date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 587 points closing @25191 ,As discussed in Last analysis 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.
Bearish bet paid of and also top was made on 28 Nov after our TC date, Coming week range of 24950-80 is important support zone holding the same we can see fast up move towards 25500/25800. Bearish below 24900 for a move towards 24476/24200.
Bank Nifty Monthly
As November was trend change month, Bullish bet only above 25920. Bearish below 24900 on Monthly close can see fast fall till 24238/23500.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:25150
Bank Nifty Resistance:25300,25430,25600
Bank Nifty Support:25000,24750,24550
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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