Last Week we gave Chopad Level 24100 Bank Nifty gave Long/Short Entry on Monday got 1 target on downside and long did 2 target on upside,so good week for Chopad followers.Lets see How to trade Bank Nifty in coming week.We have trading holiday on 25 Aug
Bank Nifty Hourly
Bank Nifty bulls need to trade above 24100 for uptrend to continue till 24300/24500. Bearish below 2400o for a move towards 23800/23500.
Bank Nifty Harmonic Pattern
If Bank Nifty hold 23800 for 1 week we can see fast move towards 25000, Previous week ABCD pattern also hold till 23800 holds
Supply and Demand Analysis
Self Explanatory chart..
Bank nifty corrected from gann angle resistance as shown in above chart and now gann angle support at 23800. Lets see in coming week it holds gann angle, else fall can be seen till 23000.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 21/22/25 Aug is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 88 points closing @24074 closing below the AF line, Bulls need a close above 24100 for a move towards 24500. Bearish below 24000 for a move towards 23755/23540/23255/23000.
Next Week is very crucial as several time cycle data are coming and also the existing time cycle of 07 Aug-24 Aug is coming to an end.
Bank Nifty Monthly
Now bears need close below 24000 for next move towards 23500/23000. Bullish above 24300 for a move towards 25000.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:24100
Bank Nifty Resistance:24170,24372,24532
Bank Nifty Support:23970,23820,23600
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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