Last Week we gave Chopad level of 27420 Bank Nifty gave short entry and did all 3 target on downside confluence of time cycle on 10-11 Sep, so excellent week for chopad followers . Lets see how we trade bank nifty in coming week as we approach important time cycle on 20 Sep.
Bank Nifty Harmonic Pattern
We are forming potential ABCD Pattern till we hold 25655, We are heading towards new high levels as mentioned above.
Supply and Demand Analysis
Self Explanatory chart..
Planetary Cycles and Bank Nifty Movements
As discussed in last Analysis Bullish above 27600 for a move back to 28000/28225. below 27200 Bears have upper had and can push index towards 27000/26800/26656.
All Bearish target done, Now Bulls need to conquer 27225 for upmove to continue towards 27500/27640. Bearish below 27072 for a move back to 26896/26784/ 26640
As discussed in last Analysis Heading towards the lower end of gann angle around 26200-26000 till we are below 26600.
All Bearish target done, Now till we are holding 26555 heading towards the higher end around 28000-28200.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 17-20 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 317 points closing @27163 .As discussed in last Analysis 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.
All Bearish target done, Now Bulls need to conquer 27225 for up move to continue towards 27500/27640. Bearish below 27072 for a move back to 26896/26784/ 26640.
Time Cycle date of 20 Sep is very important.
Bank Nifty Monthly
As discussed in last Analysis Now Till we are holding the low of 27230 Bulls can push index bank to 28000. Bearish below 27200 for a move back to 27000/26500/26250.
26555 done now above 27225 Bulls again have upperhand for higher target till 27500/27648.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:27225
Bank Nifty Support :27072,26896,26640
Bank Nifty Resistance:27360,27504,27648
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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