Last Week we gave Chopad level of 28131 Bank Nifty gave short entry and did all 3 target on downside, so excellent week for chopad followers. Lets see how we trade bank nifty in coming week as we approach confluence of time cycle on 10-11 Sep.
Bank Nifty Harmonic Pattern
No Valid Harmonic Patter For coming week. Last week pattern got invalidated below 11600
Supply and Demand Analysis
Self Explanatory chart..
Planetary Cycles and Bank Nifty Movements
As discussed in last Analysis Now bulls need a close above 28125 for a move back to 28368/28520. Bearish below 28000 for a move back to 27920/27784/27656.
Bullish above 27600 for a move back to 28000/28225. below 27200 Bears have upper had and can push index towards 27000/26800/26656.
As discussed in last Analysis Fresh shorts below 28000 only for a fast move towards 27920/27784/27656/27400. Bullish above 28125 for a move towards 28225/28370/28500.
Heading towards the lower end of gann angle around 26200-26000 till we are below 26600.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 10-11 Sep is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 580 points closing @27481 .As discussed in last Analysis Now bulls need a close above 28125 for a move back to 28368/28520. Bearish below 28000 for a move back to 27920/27784/27656.
All bearish target done, Now coming week we are getting the confluence of time cycle on 10-11 Sep suggesting till below 27200 Bears have upper had and can push index towards 27000/26800/26656. Bullish above 27600 for a move back to 28000/28225
Bank Nifty Monthly
As discussed in last Analysis Bears below 28000 bears can push index towards 27570/27250. Bullish above 28068 for a move back to 28225/28400.
Bears did the target on downside towards 27250. Now Till we are holding the low of 27230 Bulls can push index bank to 28000. Bearish below 27200 for a move back to 2700/26500/26250.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:27420
Bank Nifty Support :27225,27070,26850
Bank Nifty Resistance:27600,27784,27930
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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