Last week we gave the Chopad level of 18680 Bank Nifty did 1 target on upside and with big gap down the Shorting trade was avoided . Lets analyze how to trade market in coming wee.
Bank Nifty Hourly
Bank Nifty need to sustain above 3×1 and 4×1 line for bulls to act else 18400/18300 can be seen.
Bank Nifty Pyrapoint Indicator
Bank NIfty has been trading in the range of 135 and 90 degree pyrapoint angle, 90 degree has proved to be an elusive resistance from past 2 months and 135 degree strong support.
Bank NIfty held to 4×1 line saw a decent bounceback 2×1 line @19050 should be seen closely in coming week.
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 Gann Dates
Bank Nifty As per time analysis 04 August/07 August is Gann Turn date , except a impulsive around this dates. Last week we gave 27 July/01 August Nifty saw a volatile move .
61.8% retracement @19250 and 50%@ 19041 should be closely watched for further price action.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 94 points closing @18730 , price again held its median of AF line. Holding the same it can move to 19000 zone target as per AF. We are still in Bullish time cycle from 14 June till mid September, correction in between should be bought into with proper risk management.
Bank Nifty Monthly
Again Monthly unable to cross Breakout level.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:18830
Bank Nifty Resistance:18980,19150,19370
Bank Nifty Support:18580,18460,18300
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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