Last Week we gave Chopad level of 29125 Bank Nifty opened with gap up and rallied towards 31700 as our Beloved PM Shri Narendra Bhai Modi came back to power with even a bigger mandate a proud moment for All Indians and Market saluted the victory by Hitting 31700 . Lets see how to trade in coming week as we look for Monthly closing and Monthly Expiry.
Bank Nifty Harmonic Pattern
Till we are holding 30265 Upgraded target 32000/32400/32753
Supply and Demand Analysis
Self Explanatory chart.
Planetary Cycles and Bank Nifty Movements
Bulls need to move above 31300 for a move back to 31500/31700/32000/32300/32700. Bearish below 31000 for a move back to 30810/30540/30265/30000.
Break out of gann angle need a follow upmove on monthly close above 30300.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 27/30 May is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
Now coming week Bulls need to move above 31300 for a move back to 31500/31700/32000/32300/32700. Bearish below 31000 for a move back to 30810/30540/30265/30000.
Bank Nifty Monthly
Need a monthly close above 31000 for rally to continue towards 32700/22600
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:31300
Bank Nifty Resistance: 31500,31725,31930,32256
Bank Nifty Support:31100,30810,30540,30265
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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