Last Week we gave Chopad level of 23500 as Bank Nifty opened gap up so no trade was initiated as per chopad levels. Lets see how we trade nifty in coming week as we start the new financial year.
Bank Nifty Harmonic Pattern
Bank Nifty is forming a bullish abcd patter with target as mentioned. Bulls need close above 24476 for upmove to continue towards 25000.
Supply and Demand Analysis
Self Explanatory chart..
Heading to gann angle resistance. Bullish above 24476.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 01/05 April is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 592 points closing @24264. As discussed in last analysis Now for coming week Bears need a close below 23500 for a move towards 23000-22900. Bullish above 23750 for a move towards 24000/24250. 26-28 March again we are getting confluence of time cycle.
Once 23750 was broken on 26 March time cycle date big move was seen and we did all target till 24250 . Coming week bulls need close above 24476 for the up move to continue till 24750/25000. Bearish below 24250 for the move towards 24000/23750.
Bank Nifty Monthly
As per time analysis April is trend change month, 02 April open will play crucial role for whole month.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:24350
Bank Nifty Resistance :24476,24620,24800
Bank Nifty Support :24150,24000,23780
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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