Last week we gave Nifty Chopad level of 16200 and Bank Nifty did 3 target on downside. Lets analyze how to trade in as RBI policy is coming on 30 September
Bank Nifty Hourly
Bank Nifty hourly charts broke the support zone of 15450 saw a decline till 15200 odd levels and closed above this support zone,moving above 15750 bank nifty can move towards another life highs.
Bank Nifty Hourly Elliot Wave
Bank Nifty hourly EW is shown as above.
Bank Nifty Daily
Bank Nifty daily is near its trendline resistance on daily chart any close above 15750 bulls are back in bank nifty.
Bank Nifty Daily EW
Bank Nifty has completed its 4 wave, v impulsive wave can start soon with target shown in above chart.
Bank Nifty Daily Bias
Bank Nifty daily chart after fall of 1000 points is still in neutral zone suggesting underline trend is still bullish and dip in bull market correction needs to be bought into.
Bank Nifty Gann Dates
As per time analysis 03 Oct is Gann Turn date, except a impulsive around this date. Last week 22 Sep gave the big move as expected.
Bank Nifty Weekly
Bank Nifty Weekly chart as per Andrew Pitchfork again made an attempt to cross the AF line but unable to do so, This week 15750 needs to be watched closely on weekly basis, unable to close above it we can see a pullback like last time we saw BN turned after touching AF. Very interesting trading days ahead.
Bank Nifty Monthly
Bank Nifty is also approaching the trendline on upside was unable to cross the first time. October closing will be keenly watched.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:15696
Bank Nifty Resistance:15826,15956,16086
Bank Nifty Support:15566,15436 and 15306
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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