Last Week we gave Chopad level of 30068 Bank Nifty opened with gap down and did not trigger our chopad level. Let see how to trade in coming week as we approach important time cycle date of 15/16 May.
Bank Nifty Harmonic Pattern
Till we are holding 28666 Upgraded target 29500/30300/30666/31470
Supply and Demand Analysis
Self Explanatory chart.
Planetary Cycles and Bank Nifty Movements
Bulls need to move above 30125 for a move back to 30250/30390/30666/30810/31000. Bearish below 28900 for a move back to 28800/28640/28500/28300.
Gann Angle Support broken need next week close below 28500 for a bigger fall else we will rally again.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 15/16 May is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
Now coming week Bulls need to move above 30125 for a move back to 30250/30390/30666/30810/31000. Bearish below 28800 for a move back to 29800/28640/28500/28300.
Bank Nifty Monthly
Bulls now need to close above 29125 in May month momentum to be in there favor towards 29666/30500/31000/31500. Bear will get active below 28900 for a move back to 28800/28640/28500/28300.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:29125
Bank Nifty Resistance:29350,29555,29669
Bank Nifty Support:28930,28750,28600
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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