Last Week we gave Chopad Level 25650 Bank Nifty gave Long Entry as per Chopad Level on Monday as Low made was 25643 rewarded Chopad Followers as it did 1 Targets on upside, Also short got entry on Wednesday but made low of 25527 missing our target by 17 points so average week for Chopad followers. Bottom made for the week was exactly on Time Cycle Turn date of 11 Jan .Lets see How to trade Nifty in coming week as we approach the earning season.
Bank Nifty Yearly Technical Outlook and Time Cycle Dates for 2018
Bank Nifty Harmonic Pattern
We are forming a bullish ABCD pattern with PRZ zone coming around 26779, Bulls need to continue holding 25555 for a move towards for 25780/25920/26300/26779.
Supply and Demand Analysis
Self Explanatory chart..
Gann Angles
As per gann angle Break of 25600 for a move towards higher end of gann angle at 25920/26500.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 18/21 Jan is Turn date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 147 points closing @25749. As discussed in last analysis Coming week 11 Jan is important time cycle turn date. Bulls need to hold 25510 level for a breakout to sustain for a move towards 25800/25920/26100. Bearish below 25250 for a move towards 25000/24750.
Low made on time cycle date of 11 Jan and zoomed up and also held on to our price level of 25510. Bulls need to hold 25600 level for a breakout to sustain for a move towards 25920/26100. Bearish below 25500 for a move towards 25250/25000.
Bank Nifty Monthly
Bank Nifty Bulls held to 25500 on Monthly and Yearly closing basis. Holding the same we are heading towards 26700.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:25801
Bank Nifty Resistance:25952,26135,26300
Bank Nifty Support:25680,25530,25300
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.
Want to see post in your Inbox,Register by adding your email id in Post in your Inbox section
Follow on Facebook during Market Hours: https://www.facebook.com/pages/Brameshs-Tech/140117182685863
Follow on Twitter during Market Hours: https://twitter.com/brahmesh