Bank Nifty Weekly Forecast as we Approach Convergence of Time Cycle

Last Week we gave Chopad Level 23710  Bank Nifty made high of 23630 so not giving any trade to Chopad Followers.Lets see how to trade in coming week.

Bank Nifty Hourly

 

As discussed in last analysis  Now coming week 23470-23500 should be held for next upmove towards 23900/24120. Bearish below 23450 for a move towards 23300.

Bank Nifty went below 23450 and made low of 23111 near our target of 23300. Coming week as long as 23477-500 range is held bulls have upper hand and can push bank nifty towards 23760/23950. Bearish below 23400 for a move towards 23150/23000.

Bank Nifty Harmonic Pattern

 

Holding 23470-23500 we can march towards 23663/23760/23900.

Supply and Demand Analysis

 

Bulls should hold 23500-23460 range for the next round of upmove.Bearish below 23300 for a move towards 23977/22500.

Gann Angles

 

Bulls need to hold 23470-500 range  for a move till 23760/24000.

Bearish below 23300 for a move towards 23000.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 18/23 June is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was Negative week, with the Bank Nifty down by 188 points  closing @23502 closing above upper end of quadrant .As discussed in last analysis  Now as per new time cycle low of 23476 is important holding the same we can see next upmove towards 23900/24120. Bearish below 23470 for a move towards 23300.

Bearish cycle played well below 23470 as low made was 23311. Coming week as long as 23477-500 range is held bulls have upper hand and can push bank nifty towards 23760/23950. Bearish below 23400 for a move towards 23150/23000. 22-23 June is crucial turn date as per time analysis.

Bank Nifty Monthly

High made was 23708 now holding 23300 we can see move till 24144.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:23530

Bank Nifty Resistance:23651,23799,23970

Bank Nifty Support:23400,23250,23000

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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