Last Week we gave Chopad Level 25100 Bank Nifty gave multiple entry for both long and short as per Chopad Level in last week and did all 1 target on both upside and downside, So Average week for Chopad followers. Lets see how we trade nifty in coming week as we have monthly closing.
Bank Nifty Harmonic Pattern
Till we are holding Guj Election recent low of 24781 we can see the rally back towards 28000.
Supply and Demand Analysis
Self Explanatory chart..
Bounced from gann support zone.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 26/28 Feb is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 138 points closing @25302. As discussed in Last analysis For coming week we have confluence of time cycle on 19/22 Feb so bulls need to trade above 25250 for a move back towards 25555/25800. Bearish below 25100 for a move towards 24900/24750.
Low made on 22 Feb and big rally came. For coming week bulls need a close 25350 for up move to continue towards 25555/25750/26000. Bearish below 25150 for a move back to 25000/24760.
Bank Nifty Monthly
Monthly bulls need a close above 26000 for the bull rally to continue.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:25355
Bank Nifty Resistance :25500,25710,25920
Bank Nifty Support :25200,24980,24820
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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