Bank Nifty Weekly Forecast for 29 May-02 June

Last Week we gave Chopad Level 22820  Bank Nifty gave Short on Monday which did 2  Chopad Target  thus rewarding disciplined Chopad  Traders, Longs on Thursday rewarded chopad followers again as did 3 target on upside.  Lets see how to trade in coming week as we approach the last week of May month.

Bank Nifty Hourly

 

As discussed in last analysis Coming week 22650 will play crucial role, close above it move towards 23111/23484. Bearish below 22600 move towards 22450/22222/22000.

Both target done on downside and upside. Coming week bulls should hold 23000 for next move towards 23762/24000. Bears below 23000 for a move towards 22800/22650.

Bank Nifty Harmonic Pattern

 

As discussed in last analysis   now bulls need to hold 22650 for a move till 23111.

23111 done now Holding 23000-22900 we can march towards 24111.

Supply and Demand Analysis

 

Bulls should hold 23000 range for the next round of upmove.

Gann Angles

 

As discussed in last analysis  bulls need to hold 22650 for a move till 23484/24000.

23400 done now waiting for 23762 and 24100.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 29/31 May is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was Positive week, with the Bank Nifty up by 592 points  closing @23363 closing above upper end of quadrant As discussed in last analysis Now for coming week bulls need to hold 22650-22700 range for the upmove towards 23111/23484. Bears below 22500 can push bank nifty to 22150/22000.Coming week is very crucial as we can see good trending move in bank nifty.

Bearish set up got stopped out and bullish set up did all the target with a good trending move. Now for coming week bulls need to hold 23250-23300 range for the upmove towards 23690/23884. Bears below 23200 can push bank nifty to 23000/22800.Coming week is very crucial as we can see good trending move in bank nifty.

Bank Nifty Monthly

As discussed in last analysis Now bulls needs to hold 22500 for next move towards 23400/24144.

High made was 23408 so 23400 done now holding 23000 we can see move till 24144.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:23400

Bank Nifty Resistance:23550,23690,23850

Bank Nifty Support:23200,23050,22800

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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