Last Week we gave Chopad level of 24970 Bank Nifty gave multiple long /short entry and gave 1 Target on downside and 3 on upside before hitting 1 time stoploss so an good week for chopad followers. Lets see how we trade bank nifty in coming week,as we Monthly close and also trading holiday on 01 May .
Bank Nifty Harmonic Pattern
Bulls need to move above close above 25450 for upmove towards 25666/25920
Supply and Demand Analysis
Self Explanatory chart..
Bank Nifty bulls need close above 25450 for the upmove towards next gann angle 25920
Bank Nifty Gann Dates
Bank Nifty As per time analysis 30 April/04 May is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 256 points closing @24943. As discussed in last analysis For coming week bulls need to close above 24970 for upmove towards 25250/25500. Bearish below 24800 for a move towards 24650/24500.
25441 done, Now for coming week bulls need to close above 25450 for the upmove towards 25555/25750/25920. Bearish below 25235 for a move back to 25100/24920/24768
Bank Nifty Monthly
Bulls need to hold 25235 for the move to continue towards 25500/25750.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:25450
Bank Nifty Resistance :25666,25850,26000
Bank Nifty Support :25250,25100,24920
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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