Last week we gave the Chopad level of 17906 Bank Nifty achieved all 3 target on upside rewarding discipline chopad followers .Lets analyze how to trade market in coming week as we also have monthly closing and Greece drama has comes to climax with Alex Tripas asking for referendum which can send shock waves to world financial market.
Bank Nifty Hourly
Bank Nifty with gann angles are shown, took support at 3×1 on hourly basis,holding the same bounceback to 18600 possible, any break below 18200 can show fast move towards 18000/17950.
Bank Nifty Hourly EW
Hourly Elliot wave analysis is shown, 18540 will play crucial levels next week.
Bank Nifty Pyrapoint Indicator
Traded well in the range of Pyrapoint Analysis Support @180 degree line , resistance at 135/90 degree line.
Again 100 DMA bears got active and bank nifty showed pullback, support @18000.
Bank Nifty Harmonic
As discussed last week Bank Nifty has completed its Cypher pattern holding the low of 17200 can see initial bounce towards 17800 above that 18200.17800 done waiting for 18200 once 17950 is crossed in coming week.
Now the high of 18540 is very crucial as on weekly chart forming BAT pattern unable to cross the high of 18540 can be bearish in medium term.
Bank Nifty EW Daily
Use dips to keep accumulation quality banking stocks. Long term targets are still pending as shown above.
Who bought banking stocks should have been rewarded handsomely, profit booking is always advised.
Bank Nifty Daily Gunner
As discussed last week On Daily chart as per Gunner has taken support at the horizontal line and also close above the 1*1 gann line now move above 17900 can see good move on upside 18150/18400.
Now 1×2 gann line is very important resistance unable to cross the same can see pullback till 17950/17700.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 29 June/02 July is Gann Turn date , except a impulsive around this dates. Last week we gave 22 June/25 June Nifty saw a volatile move .
Again held on to its 50 % and heading towards 38.2% if 17200 is broken as per FF
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 490 points closing @18370 , price again held its 55 WSMA but unable to cross 20WSMA and median of AF line.As per time analysis next cycle from 29-03 July will be Volatile cycle with underlying trend neutral to bearish. Time Analysis of showing positive move after 14 June worked perfectly
Bank Nifty Weekly Gunner
Weekly gunner 18540 needs to be crossed if not will see pullback towards green arc.
Bank Nifty Monthly
Bank Nifty On Monthly chart prices got accepted at lower end of Fibonacci channel now held the 61.8% retracement.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:18285
Bank Nifty Resistance:18426,18539,18625
Bank Nifty Support:18166,18036,17950
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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