Bank Nifty Weekly Forecast as we approach All Time High

By | July 15, 2018

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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