Last Week we gave Chopad level of 26450 Bank Nifty gave Short entry on Monday did 1 target on downside, Longs were triggred on Wednesday and did 2 target on Upside so GOOD week for chopad followers. High made for the week was 26683 just near to our Chopad level target of 26673. Lets see how we trade Bank nifty in coming week, as we approach June month Expiry and effect of Gann Time Cycle date 22 June on Monday.
Bank Nifty Harmonic Pattern
Waiting for target of 27412.
Supply and Demand Analysis
Self Explanatory chart..
Planetary Cycles and Bank Nifty Movements
As discussed in last analysis Below 26200 can see fast fall towards 26000/25920. Bullish above 26500 for a move towards 26666/26782/27000.
Low made was 26225 so bearish case on activated, Bullish above 26500 for a move towards 26666/26782. For coming week Bullish above 26810 for a move towards 26920/27063/27200/27350.Bearish below 26555 for a move back to 26400/26225/26150/26000.
Waiting for 27200 till we are holding 27450.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 25/29 June is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 349 points closing @26766 .As discussed in last analysis Bulls need to close above 26510 for the move to continue towards 26666/26765/26920. Bearish below 26350 for a move back to 26200/26070/25920.
Low made 26225 and once 26510 take out move continued towards 26666/2676. Coming Week Bullish above 26810 for a move towards 26920/27063/27200/27350. Bearish below 26555 for a move back to 26400/26225/26150/26000.
Bank Nifty Monthly
Bulls need to close above 26920 for momentum to continue in their favor for June series, else bears will push index back to 26000
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:26810
Bank Nifty Resistance :26970,27216,27320
Bank Nifty Support :26600,26450,26210
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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