Last Week we gave Chopad Level 24850 Bank Nifty gave multiple entry for short as per Chopad Level in last week, Stop were triggered for 1 time and 2 time did all 3 target on downside, Awesome week for Chopad followers. Lets see how we trade nifty in coming week as we approach the crucial time cycle confluence on 15-16 March.
Bank Nifty Harmonic Pattern
PRZ Done as per Gartley pattern now holding 24250 we can see move towards 24896.
Supply and Demand Analysis
Self Explanatory chart..
Bounced from gann angle, Holding above 24250 we can see bounceback towards 25000.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 14/ 16 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 606 points closing @24296. As discussed in Last analysis Now for coming week Bulls need to go above 25000 for rally towards 25250/25500. Bearish below 24760 for a move towards 24500/24222.
All Bearish target done. Now for coming week Bulls need a close above 24555 for a move towards 24840/25040. Bearish below 24250 for a move towards 24000/23700. 15-16 March again we are getting confluence of time cycle.
Bank Nifty Monthly
As we are near monthly support level we can see bounce back till 25000-25555
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:24444
Bank Nifty Resistance :24600,24874,25000
Bank Nifty Support :24300,24150,23920
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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