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.
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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