Last Week we gave Chopad level of 25450 Bank Nifty gave multiple long entry and gave 1 Target on upside so average week for chopad followers. Lets see how we trade bank nifty in coming week,as we have important trend change date of 06 May showing effect.
Bank Nifty Harmonic Pattern
Bulls need to hold 25500 for the move towards 26287.
Supply and Demand Analysis
Self Explanatory chart..
Bank Nifty bulls need close above 25710 for the upmove towards next gann angle 25920/26287
Bank Nifty Gann Dates
Bank Nifty As per time analysis 7/11 May is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 250 points closing @24645. As discussed in last analysis Now for coming week bulls need to close above 25450 for the upmove towards 25555/25750/25920. Bearish below 25235 for a move back to 25100/24920/24768
25716 done now coming week till we are holding 25160 upmove towards 25750/25920.Bearish below 25450 for a move back to 25250/25100/25000.
Bank Nifty Monthly
Bulls need to hold 25607 for the move to continue towards 26000/26278/26666.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:25666
Bank Nifty Resistance :25777,25860,26000
Bank Nifty Support :25550,25350,25100
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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