Last week we gave the Chopad level of 18770 Bank Nifty did 1 target on upside and 3 target on downside rewarding disciplined chopad followers. Lets analyze how to trade market in coming week .
Bank Nifty Hourly
Bank Nifty as per EW analysis 17500/17600 should be seen in coming week.
Bank Nifty Pyrapoint Indicator
Bank NIfty has broken the 135 and 90 degree line and is heading towards 180 degree line.
Bank NIfty 4×1 line will act as resistance now and heading towards 8×1 line @17600 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 Supply and Demand
Bank Nifty rotated between Supply and Demand zone and rewarding traders who shorted at Demand zone and bought back at supply zone. Self Explanatory chart shown above.
Bank Nifty Gann Dates
Nifty As per time analysis 23 August/27August is Gann Turn date , except a impulsive around this dates. Last week we gave 19 August/21 August Bank Nifty saw a volatile move .
17500 strong support as per Murry Math Line Analysis
17800/17612 should be closely watched for further price action.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 666 points closing @18057 forming bearish engulfing candlestick pattern . Support at median of AF line @17800 near lower end of 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 now near breakdown level.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:17850
Bank Nifty Resistance:18000,18150,18265
Bank Nifty Support:17635,17470,17210
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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