Last Weekly we gave Chopad level Bank Nifty 10221 and achieved 2 target upside.
Bank Nifty Hourly
Bank Nifty hourly charts is trading above its 200HSMA@10485 ,Closing above 10630bounceback can be seen till 10800-10900.
Bank Nifty Daily
Bank Nifty on daily chart is near its trendline support with contraction in trading rang .Breakout comes above 10630 and breakdown below 10450, Breakout on upside bounceback can be seen till 10800-10900 odd levels where 200 DMA of Bank Nifty lies.
Bank Nifty Fibonacci fan is near its Fibo Fan support level as seen in above chart.
Fibo Retracement also signalling support @10256 and resistance at 10850.
Bank Nifty Weekly
Bank Nifty has bounced from its trendline support and now approaching a weekly breakout above 10630,which if broken is bullish in short term for target of 10800-10900. Breakdown below 10450 for target of 10000-10200 in short term.
Bank Nifty Monthly
Bank Nifty has risen 3% in feb series till date.We got close above 10400 and Bank Nifty has entered the Fibo Arc which will be bullish in short term.
Bank Nifty Trading Levels
Bank Nifty Trend Deciding Level:10626
Bank Nifty Resistance:10701,10800,10982
Bank Nifty Support:10052,10460,10366
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
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