Bank Nifty Weekly Forecast for 03-07 July

Last Week we gave Chopad Level 23616 Bank Nifty gave Short entry on Monday and did the third  target by Wednesday so good week for Chopad followers.Lets see How to trade Bank Nifty in coming week

Bank Nifty Hourly

 

As discussed in last analysis  coming week Holding 23500 we can see rise till 23860/24000. Bearish below 23500 for a move towards 23320/23290.

All target done on downside Now for coming week, 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 fora  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.

Gann Angles

Till Bank Nifty is below 23300 bears have upper hand and can push bank nifty towards 22900/22750/22500.

Bulls above 23300 can see move towards 23500/23750.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 03/06 July is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was negative week, with the Bank Nifty down by 331  points  closing @23211 closing above upper end of quadrant .As discussed in last analysis  Coming week 24 June was monthly time cycle date so low made on 23 June will play crucial role, Holding 23500 we can see rise till 23860/24000. Bearish below 23500 for a move towards 23320/23190.

Bearish Cycle played pretty well as below 23500 we did both target of 23320/23190.  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

Bank Nifty Monthly

Bulls need to hold 23000 we can see move till 24144.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:23300

Bank Nifty Resistance:23550,23700,23920

Bank Nifty Support:23100,22920,22680

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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