Last Week we gave Chopad Level 25355 Bank Nifty opened gap up and gap down above and below chopad levels not giving an opportunity to enter last week. Lets see how we trade nifty in coming week as we approach the crucial time cycle confluence on 02-04 March.
Bank Nifty Harmonic Pattern
Till we are holding Guj Election recent low of 24617 we can see the rally back towards 28000.
Supply and Demand Analysis
Self Explanatory chart..
Next Week Crucial and we can see possible price time squaring till we are holding 24781.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 05 March is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 200 points closing @24902. As discussed in Last analysis 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.
Bearish target done, Now for coming week Bulls need to go above 25000 for rally towards 25250/25500. Bearish below 24760 for a move towards 24500/24222.
Bank Nifty Monthly
Trend change to Sell on Rise as we saw a Monthly close below 26000.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:24850
Bank Nifty Resistance :25000,25160,25450
Bank Nifty Support :24650,24500,24222
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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