Last Week we gave Chopad level of 25666 Bank Nifty gave long entry and gave 3 Target on upside Low made was 24676 so an excellent week for chopad followers. Also 07 May Bank nifty made low and rallied for the whole week. Lets see how we trade nifty in coming week,as we have Karnataka Election results and Important Astrological date on 16 May.
Bank Nifty Harmonic Pattern
As discussed in last analysis Bulls need to hold 25500 for the move towards 26287.
26287 done now bulls need to hold 26250 for upmove towards 26778
Supply and Demand Analysis
Self Explanatory chart..
As discussed in last analysis Bank Nifty bulls need close above 25710 for the upmove towards next gann angle 25920/26287
26287 done and now bank nifty need to hold 26250 for upmove towards 26778
Bank Nifty Gann Dates
Bank Nifty As per time analysis 16/18 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 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.
25920 done. Now bulls need to hold 26250 for upmove towards 26778/28000/28250. Bearish below 26250 for a move towards 26000/25750.
Bank Nifty Monthly
Bulls need to hold 25607 for the move to continue towards 26000/26278/26666/27000.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:26450
Bank Nifty Resistance :26666,26850,27150
Bank Nifty Support :26250,26000,25850
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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