Bank Nifty Weekly for 03-07 Sep

Last Week we gave Chopad level of 27920 Bank Nifty gave long entry on upside on Monday rewarded traders handsomely,did all 3 target on Upside so excellent week for chopad followers. Lets see how we trade bank  nifty in coming week.

 

Bank Nifty Harmonic Pattern

As discussed in last Analysis ABCD Pattern can resume the last leg rally once we close abvoe 28000 for the completion of pattern till 28430.

Waiting for target of 28494.

Supply and Demand Analysis

 

Self Explanatory chart..

Planetary Cycles and Bank Nifty Movements

As discussed in last Analysis Bulls need a close above 27940  for a move back to 28068/ 28225/28400. Bearish below 27784 for a move back to 27656/27450/27225.

High made 28388 so bulls were able to achieve the target. Now bulls need a close above 28125 for a move back to 28368/28520. Bearish below 28000 for a move back to 27920/27784/27656.

Gann Angles

As discussed in last Analysis Bulls got whipsawed now need to a close above 27920 for the up move to resume.Fresh shorts below 27739 only for a fast move towards 27656/27400.

.Fresh shorts below 28000 only for a fast move towards 27920/27784/27656/27400. Bullsih above 28125 for a move towards 28225/28370/28500.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 03 Sep is Pressure date , impulsive move can be seen around these dates.

Bank Nifty Weekly

It was negative week, with the Bank Nifty down by 293 points  closing @27834 .As discussed in last Analysis   Now bulls need a close above 27940  for a move back to 28068/ 28225/28400. Bearish below 27784 for a move back to 27656/27450/27225.Important time cycle date for coming week is on 29 Aug

High made 28388 so bulls were able to achieve the target. Now bulls need a close above 28125 for a move back to 28368/28520. Bearish below 28000 for a move back to 27920/27784/27656.

Bank Nifty Monthly

As discussed in last Analysis  Now till we are below 28000 bears can push index towards 27570/27250. Bullish above 28068 for a move back to 28225/28400.

Bank Nifty bulls are holding 28000 but unable to do weekly close above 28068 so tight fight going on. Bears below 28000 bears can push index towards 27570/27250. Bullish above 28068 for a move back to 28225/28400.

 

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:28131

Bank Nifty Resistance :28225,28436,28578

Bank Nifty Support :27920,27784,27656

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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4 thoughts on “Bank Nifty Weekly for 03-07 Sep”

  1. There seems to be some typo in Chopad support 3rd level – should be 27656 right?
    Also the first resistance of 28225 is it too close to the trend change level. Could you confirm?

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