Last Week we gave Chopad level of 26980 Bank Nifty gave Long on Tuesday and did 1 target on Upside Short on Wednesday also did 1 Target on downside so average week for Chopad Followers. Lets see how we trade Bank nifty in coming week.
Bank Nifty Harmonic Pattern
As discussed in last analysis Waiting for 27412 till we are 26774.
As we again held 26774 on Weekly basis so We can move for target of 27412.
Supply and Demand Analysis
Self Explanatory chart..
Planetary Cycles and Bank Nifty Movements
As discussed in last analysis Now till bulls are holding 26900 we can continue up move towards 27216/27490. Bearish below 26784 for a move back to 26640/26496.
Below 26784 we did 26644 tight range week we should see good move in coming week. Bullish above 26930 for a move back to 27064/27150/27225/27360. Bearish below 26784 for a move towards 26640/26496/26200/26064.
Bulls need close above 27000 for a move towards 27500.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 23/26 July is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 442 points closing @26935 .As discussed in last analysis Till bulls are holding 26900 we can continue up move towards 27216/27490. Bearish below 26784 for a move back to 26640/26496.
Below 26784 we did 26644 tight range week we should see good move in coming week. Bullish above 26930 for a move back to 27064/27150/27225/27360. Bearish below 26784 for a move towards 26640/26496/26200/26064. 23 is an important time cycle date.
Bank Nifty Monthly
As discussed in last analysis Bulls need to close above 26500 for momentum to continue in their favor for July series, else bears will push index back to 26000. Till we are holding 26500 bulls have upperhand, we are up 700 points from that level.
Still we are holding 26500 and rallying.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:26930
Bank Nifty Resistance :27150,27360,27497
Bank Nifty Support :26784,26640,26496
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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