Last Week we gave Chopad Level 24000 Bank Nifty gave Long Entry on Monday and did the second target by Thursday ,so good week for Chopad followers.Lets see How to trade Bank Nifty in coming week.
Bank Nifty Hourly
As discussed in last analysis now bulls need a close above 24000 for a move till 24250/24500. Bearish below 23700 for a move towards 23500/23350.
24250 done, and for the whole week bank nifty did not close below 24000, Now we are heading to trend line resistance in range of 24450-24500, so traders who are long should book profit in this range as and when it comes. Bearish only on close below 24000 for a move towards 23800/23500.
Bank Nifty Harmonic Pattern
As discussed in last analysis 24000 done now holding 23730 can see next move towards 24250/24452.
24250 done now waiting for 24452-24500.
Supply and Demand Analysis
Bulls should hold 24000-24050 range for the next round of upmove towards 24500-24888.Bearish below 24000 for a move towards 23500/23750.
As discussed in last analysis 24000 done, now holding 23750 can see see next round of upmove towards 24350-24445 where next major resistance lies.
as per gann angles bank nifty resistance comes in range of 24480-24530.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 25 July is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 319 points closing @24257 .As discussed in last analysis now we might consolidate the gains and till 23750 is held bulls can move up till 24250/24550. Bearish below 23750 for move till 23500/23250.
24250 done now waiting for 24450-24500 range where there is resistance as per channel also as shown in above chart. Next time cycle is from 24-31 July, bullish till 24000 is held and bearish below it for target 24500/24888. Bearish target 23750/23500.
Bank Nifty Monthly
As discussed in last analysis Bulls need to hold 23000 we can see move till 24144.
24144 done and now waiting for 25000.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:24300
Bank Nifty Resistance:24400,24542,24780
Bank Nifty Support:24150,24000,23800
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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