Last Week we gave Chopad level of 26450 Bank Nifty gave short entry failed to do target of 25650 as low made was 25685, Long next day did the 1 target on upside. Finally the big move came as we did price time squaring as discussed in weekly post and did all 3 target on upside so excellent week for chopad followers. Lets see how we trade nifty in coming week,as we have May expiry.
Bank Nifty Harmonic Pattern
As discussed in last analysis Now till we are below 26000 bears can target 25420/25250.
Low made was 25622 so failed to do our target of 25420, Now till we are above 26000 we can rally towards 27000.
Supply and Demand Analysis
Self Explanatory chart..
As discussed in last analysis Break of 25850 can see fast fall towards 25500/25250.
Low made was 25622 so failed to do our target of 25420, Now once above gann resistance level of 26350 can see fast rally towards 26666/26800.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 28/31 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 397 points closing @26273 . As discussed in last analysis Now for coming week break of 25800 can see fat fall towards 25500/25250/25000. Bullish above 25920 for a move back to 26210/26364
Failed to do bearish target but bullish target done above 25920. Now bulls need a close above 26325 for a rally towards 26500/26666/26850. Bearish below 26200 for a move back to 26064/25920
Bank Nifty Monthly
As discussed in last analysis Bulls need to hold 25607 for the move to continue towards 26000/26278/26666/27000.
26278 done now waiting for 26666/27000 Low made was 25638 and big rally.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:26325
Bank Nifty Resistance :26500,26666,26850
Bank Nifty Support :26200,26064,25900
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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