Last Week we gave Chopad Level 18740 Bank Nifty gave Long Entry on Monday as low made was 18722 and did all target by Wednesday thus rewarding disciplined Chopad followers. Lets Analyze How to trade Nifty in coming week as we have Union Budget on 01 Feb.
Below links will help you in planning traders for Budget day
Bank Nifty Hourly
Bank Nifty hourly need a close above 19800 for move towards 20000/20500/21000. Support at 190000.
Bank Nifty Harmonic Pattern
NO Pattern was detected.
Supply and Demand Analysis
Bulls were above to move towards 19648 Holding the same on weekly closing basis can see move towards 20000/20600.
Bank Nifty bounced from gann support zone can now move towards 20500/21000
Bank Nifty Gann Dates
Bank Nifty As per time analysis 31 Jan/02 Feb is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 887 points closing @19708. Bank Nifty was finally able to cross the resistance of upper line of AF Bank Nifty which it was not able to break in last 20 weeks. Finally it closed above it now suggesting 19000 will be strong support and resistance at 20500/21000.
Bank Nifty Monthly
Monthly chart needs to hold 19000, Bulls to continue have upperhand towards new life high.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:19800
Bank Nifty Resistance:20100,20450,21000
Bank Nifty Support:19500,19250,19000
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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