Bank Nifty Weekly Forecast for Union Budget 2018

By | January 28, 2018

Last Week we gave Chopad Level 26888 Nifty gave Long Entry as per Chopad Level on Monday  rewarded  did 3 Targets on upside, Awesome week for Chopad followers. Bank Nifty for the whole week did not close below chopad level of 10890.Lets see How to trade Bank  Nifty in coming week as we come near confluence of time cycle 29-31 Jan ,Union budget on Thursday.

Historical Nifty Movement on Budget Day

Historical Bank Nifty Movement on Budget Day

Option Trading Strategy for Union Budget 2018


Bank Nifty Harmonic Pattern

 

As discussed in Last analysis Bullish target done, now we are having extended target of 27592.

High made was 27522 now waiting for another extended target of 28407

Supply and Demand Analysis

 

Self Explanatory chart..

Gann Angles

As discussed in Last analysis  We got breakout from gann angle and saw a big move. Now till we are holding 26000 we can move towards 27500.

27500 also done now close above 27672 can see a fast rally towards 28452/29565.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 29/31 Jan is Turn date , impulsive move can be seen around these dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 536 points  closing @27455. As discussed in Last analysis  For coming week Bulls need to hold 26666-700 range, for the up move to continue towards 27250/27500. 22 Jan -25 Jan are important time cycle dates for coming week, Any close below 25700 can see fast move 25500/25250

27500 also done, Now bulls need a close above 27555 for a move towards 28000/28464. Bearish below 27151 for a move towards 26963/26666

Bank Nifty Monthly

As discussed in Last analysis Bank Nifty Bulls held to 25500 on Monthly and Yearly closing basis. Holding the same we are heading towards 26700.

Awesome move caught using gann price time technique.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:27555

Bank Nifty Resistance:27700,28000,28464

Bank Nifty Support:27250,26963,26460

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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