Last Week we gave Chopad Level 23300 Bank Nifty gave Short entry on Monday and Tuesday but failed to do target and triggered Sl. Long above Chopad level on Wedneday did the first target on upside.Lets see How to trade Bank Nifty in coming week
Bank Nifty Hourly
As discussed in last analysis We are in 1000 point channel as show in above chart, Bulls needs to move above 23300 for a move towards 23550/23750/24000. Bearish below 23100 for a move towards 22900/22650/22450.
For coming week above 23540 bulls need move above 23750/24000. Bearish below 23100 for a move towards 22900/22650/22450.
Bank Nifty Harmonic Pattern
Holding 23100 we can march towards 24000 as per Shark Pattern.
Supply and Demand Analysis
Bulls should hold 23100-23160 range for the next round of upmove.Bearish below 23000 for a move towards 22750/22500.
As per above chart Bulls need close above 23540 for a fast move towards 23750/24000. Bearish below 23100 for a move towards 22900/22640/22500
Bank Nifty Gann Dates
Bank Nifty As per time analysis 10/12 July is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 238 points closing @23449 .As discussed in last analysis As per coming week time cycle we can expect a 3-4% move in next 2 weeks as we are nearing an impulsive time cycle, Bullish above 23300 for a move towards 23500/23700/24000. Bearish below 23100 for a move towards 22900/22640/22500
Low made was 23144 so 23100 not broken through out the week, once above 23300 bulls did 23500 and now waiting for 23700/24000. Bearish below 23100 for a move towards 22900/22640/22500
Bank Nifty Monthly
Bulls need to hold 23000 we can see move till 24144.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:23500
Bank Nifty Resistance:23650,23850,24000
Bank Nifty Support:23380,23200,23000
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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