Last week we gave the Chopad level of 18036 Bank Nifty achieved 2 target on downside and 2 target on upside rewarding discipline chopad followers on both upside and downside.Lets analyze how to trade next week.
Bank Nifty Hourly
Bank Nifty on hourly charts as discussed last week 17800 if held can see 300-400 point bounce in bank nifty. Bank Nifty entered in demand zone and saw a strong bounceback. Till Holding 21/34 EMA @18200 bulls have upper hand.
Bank Nifty Hourly EW Daily
Hourly Elliot wave analysis is shown,18430/450 will play crucial role in coming week.
Bank Nifty Pyrapoint Indicator
Traded well in the range of Pyrapoint Analysis Resistance @135 degree line @18400, support at 180 degree line @ 17800.
Supply Demand Zone
Self Explanatory chart depicting Supply and Demand zone.
Bank Nifty Channel
Support becoming Resistance @ 18430 trendline top, Unable to close above 18432 possibility to a dip till 200DMA exists.
Bank Nifty Harmonic
Next round of upmove above 18430 for 18600/18800.
Bank Nifty EW Daily
Use dips to keep accumulation quality banking stocks.
Bank Nifty Market Profile
As per Market Profile 18519 should be watched in coming week below that 18163 is short term target. Above it can move towards 18700/18900
Bank Nifty Daily Gunner
On Daily chart near important Gunner resistance @1*2 line,unable to cross the same can see deeper fall.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 04 May/07 May is Gann Turn date , except a impulsive around this dates. Last week we gave 27 April/30 April and Bank Nifty saw a volatile move on both the days .
Fibonacci technique
Fibonacci Fans
Close near its 38.2 % retracement as per FF
78.6 % number is 18231 should be watched.
Bank Nifty Weekly
It was positive week, with the Bank Nifty down by 336 points closing @18338 , closing below the support line of Andrew Pitchfork and closing below its 20 WSMA @18917 unable to cross above 20WSMA can head towards 50 SMA@17181 .As per gunner heading towards 1*2 gann line if red arc @18450 is not crossed.
Bank Nifty Weekly Gunner
Bank Nifty Monthly
Bank Nifty On Monthly chart prices got reject on higher end of Fibonacci channel now held the 78.6% retracement.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:18296
Bank Nifty Resistance:18426,18686,18816
Bank Nifty Support:18166,17906,17776
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.
Want to see post in your Inbox,Register by adding your email id in Post in your Inbox section
Follow on Facebook during Market Hours: https://www.facebook.com/pages/Brameshs-Tech/140117182685863