Last Week we gave Chopad level of 24350 Bank Nifty short on Monday got stopped out, Longs were triggered on 03 April did 2 target on upside , Short triggered on 04 April also did 1 target on downside. Long were again triggred on 05 April and did all 3 target on upside so were had a roller coaster ride last week. 05 April our time cycle date nifty formed bottom and rallied . Lets see how we trade bank nifty in coming week as we have confluence of time cycle date on 12-13 April, Also we have Anniversary date on 12 April so exciting time in coming week.
Bank Nifty Harmonic Pattern
Bank Nifty is forming a bullish abcd patter with target as mentioned. Bulls need close above 24476 for upmove to continue towards 25000.
Supply and Demand Analysis
Self Explanatory chart..
Heading to gann angle resistance. Bullish holding 24476-24500 range.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 12/13 April is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 609 points closing @24873. As discussed in last analysis Coming week bulls need close above 24476 for the up move to continue till 24750/25000. Bearish below 24250 for the move towards 24000/23750.
Bearish target were not done but bullish target done on time cycle date of 05 April. Now Bulls need to hold 24500 zone were the upmove to continue towards 24920/25200. Bearish below 24476 for the move towards 24250/24000.
Bank Nifty Monthly
24235 will play crucial role for April series. Till Bulls are holding it they have upperhand.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:24768
Bank Nifty Resistance :24912,25050,25281
Bank Nifty Support :24620,24476,24312
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.
Want to see post in your Inbox,Register by adding your email id in Post in your Inbox section
Follow on Facebook during Market Hours: https://www.facebook.com/pages/Brameshs-Tech/140117182685863
Follow on Twitter during Market Hours: https://twitter.com/brahmesh