Last Week we gave Chopad level of 25250 Bank Nifty gave long entry missed 1 target as high made was 10426 ,Shorts got initiated and did 2 target on downside . Lets see how we trade bank nifty in coming week,as we approach the expiry week, also important time cycle date as 23 April .
Bank Nifty Harmonic Pattern
Bulls need to move above 25000 for the upmove to continue.
Supply and Demand Analysis
Self Explanatory chart..
Bank Nifty reacted from gann angle resistance, break of 24850 can extend fall towards 24500.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 23/27 April 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 Now bulls need to close above 25250 for a move back to 25411/25555/25661. Bearish below 25000 for a move towards 24800/24600.
Bearish target done, For coming week bulls need to close above 24970 for upmove towards 25250/25500. Bearish below 24800 for a move towards 24650/24500.
Bank Nifty Monthly
Bears broke 25235 and saw a good fall and can extend towards 24500 . Bull need a close above 25235 for move towards 25500/24550 for rest of April series.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:24970
Bank Nifty Resistance :25100,25250,25400
Bank Nifty Support :24840,24700,24500
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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