Last Week we gave Chopad Level 24850 Bank Nifty gave Long Entry on Monday and did the Third target by Thursday ,so good week for Chopad followers.Lets see How to trade Bank Nifty in coming week as we have monthly closing and RBI Policy on 02 August.
Bank Nifty Hourly
Bank Nifty needs to move above 24850 for a move towards 25000/25300/25500. Bearish below 24600 for a move towards 24450/24300/24000
Bank Nifty Harmonic Pattern
25300 is target for the current harmonic pattern.
Supply and Demand Analysis
Bulls should hold 24600-620 range for the next round of upmove towards 25000-25300.Bearish below 24450 for a move towards 24300/24000.
Bulls need weekly close above 25000 for the next round of upmove towards 25300/25500. Bearish below 24480 for a move towards 24000
Bank Nifty Gann Dates
Bank Nifty As per time analysis 07 Aug is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 16 points closing @24827closing above the AF line, Now we are entering the new time cycle on 07-24 Aug bulls need a close above 254860 for a move towards 25000/25300/25500. Bears below 24450 for a move towards 24000/23500.
Bank Nifty Monthly
Now Bulls need to hold 24480-24490 range for next move towards 25500/26000
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:24880
Bank Nifty Resistance:25000,25152,25380
Bank Nifty Support:24700,24480,24300
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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