Last Week we gave Chopad level of 12836 M Bank Nifty made low of 12238 , did all 3 target on upside cool 364 points gained :), We have Fed meeting coming up next week , so markets will remain volatile Lets analyze how to trade bank nifty in next 3 trading sessions.
Bank Nifty Hourly Elliot Wave Analysis
Bank Nifty hourly charts is shown with Short term Elliot wave analysis,Initial Target of this dowmove comes around 12700-12800.
Bank Nifty Daily
Bank Nifty on daily chart is near its trendline support area.Breadown comes below 12750 for target of 12500.As per time analysis next few days should be bearish for bank nifty.
Bank Nifty Fibonacci fan is near its Fibo Fan resistance level as seen in above chart.
Fibo Retracement has strong support at 12500 which is 61.8% retracement.
Bank Nifty Weekly
Bank Nifty Weekly chart as per gann angle is at 1×1 sector, any close below it we are heading towards 4×1 sector which comes around 12700 odd levels,
Bank Nifty Monthly
Bank Nifty has risen 18.5% in March series,April month has showed a strong support near 12500.
Bank Nifty Trading Levels
Bank Nifty Trend Deciding Level:13096
Bank Nifty Resistance:13226,13356,13486
Bank Nifty Support:12966,12836 and 12706
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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