Last Week we gave Chopad Level 19500 Bank Nifty gave Short entry on Monday which did 2 target on downside, High made was 19494 near our Chopad level of 19500 and unable to close above it through out the week. Lets analyze how to trade in coming week as we approach August Month Closing.
Bank Nifty Hourly
As discussed in last analysis Close above 19500 can move towards 19766/20000.
High made was 19494 so Bulls were unable to break 19500, bears were unable to break 19166 the breakout zone. Holding 19166 Bank Nifty can move towards 19500. Unable to hold 19000 can see correction till 18800/18550.
Bank Nifty Harmonic
Holding 19133 bank nifty can move towards 19525 as per SHARK pattern.
As discussed in last analysis 19230 done now waiting for 19500 to be done, close above 19500 as per gann angles and lead to 20500/21000 in bank nifty.
19494 was high, Bulls was not able to high 19500, Unable to break 19500 bank nifty can move towards 19000/18750 range.Bullish only on close above 19500.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 29/30 Aug is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 219 points closing @19195 closed above the upper end of the AF line, Holding the same the bullish move will continue.
Bank Nifty Monthly
Monthly chart support at 38.2 % fibo ratio and resistance at 23.6%
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:19275
Bank Nifty Resistance:19400,19550,19700
Bank Nifty Support:19040,18920,18700
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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