Last Week we gave Chopad level of 26555 Bank Nifty opened gap up and did not come near the chopad level,Aggressive traders who initiated Long were rewarded handsomely as it did all 3 target on upside. Lets see how we trade Bank nifty in coming week.
Bank Nifty Harmonic Pattern
As discussed in last analysis Waiting for target of 27190 till we are 26200.
27164 done now waiting for 27412 till we are 26774.
Supply and Demand Analysis
Self Explanatory chart..
Planetary Cycles and Bank Nifty Movements
As discussed in last analysis Bulls need a close above 26555 for a move back to 26666/26784/26930/27064. Bearish below 26410 for a move back to 26250/26064.
All Bullish target done, Now till bulls are holding 26900 we can continue up move towards 27216/27490. Bearish below 26784 for a move back to 26640/26496.
Gann Angles
As discussed in last analysis Waiting for 27000/27200 till we are holding 26200.
27164 done now till we are holding 26900 we can move up towards 27500.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 18/20 July is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 442 points closing @26935 .As discussed in last analysis For coming week Bulls need a close above 26555 for a move back to 26666/26784/26930/27064. Bearish below 26410 for a move back to 26250/26064.
All Bullish target done, Now till bulls are holding 26900 we can continue up move towards 27216/27490. Bearish below 26784 for a move back to 26640/26496.
Bank Nifty Monthly
As discussed in last analysis Bulls need to close above 26500 for momentum to continue in their favor for July series, else bears will push index back to 26000. Till we are holding 26500 bulls have upperhand, we are up 700 points from that level.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:26980
Bank Nifty Resistance :27150,27360,27497
Bank Nifty Support :26784,26640,26496
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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