Last Week we gave Chopad Level 14994 Bank Nifty did 2 target on downside and 1 Target on Upside. We got multiple trades in whole week as the volatility was at its peak in bank nifty
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Lets analyze how to trade Bank Nifty in coming week.
Bank Nifty Hourly
Bank Nifty took support @225 degree as we discussed last week and move towards till 180 degree. Holding 180 degree @15460 can see move towards 15941/16050. Break of 180 can see move towards 225 degree @14850/14900.
Bank Nifty Harmonic
Bank Nifty can see rise till 15693 as per ABCD pattern.
Bank Nifty Supply and Demand
Self Explanatory Chart
Bank Nifty Gann Dates
Bank Nifty As per time analysis 25/29 Jan is Gann Turn date , except a impulsive around this dates.
Fibonacci technique
Fibo Retracement
Fibo levels to be watched in coming week, 15218/15819/15914.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 291 points closing @15497 took support at lower end of AF median line,forming a Hammer candlestick also unable to close above its 20/50 WSMA and 100 WSMA. Resistance on upside comes at middle level of AF line @15875 and gann resistance at 15914.
Bank Nifty Monthly
Monthly chart broke support at 50% and went towards 38.2% as we have discussed last week.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:15550
Bank Nifty Resistance:15670,15797,15910
Bank Nifty Support:15380,15280,15000
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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