Bank Nifty Weekly Forecast as we approach Oct Month Closing

Last Week we gave Chopad level of 25100 Bank Nifty gave Short entry and did 2 target on Downside and short on Wednesday gave all 3 target on Downside, so excellent week for chopad followers. Lets see how we trade nifty in coming week as we approach important time cycle date of 28 Oct.

Bank Nifty Harmonic Pattern

No Valid Harmonic Pattern Observed.

 

 

Supply and Demand Analysis

 

As discussed in last Analysis Self Explanatory chart.

Planetary Cycles and Bank Nifty Movements

As discussed in last Analysis Coming week bank nifty bears need to break 24920 for a fall towards 24646/24500/24100. Bullish above 25225 for a move back to 25500/25784/25900.

24500 Done not able to close above 25225. Now Bears need to break 24350 for a move towards24100/23920/ 23600. Bullish only above 24500 for a move 24650/24768/24920.

Gann Angles

Broken gann angle.

 

Bank Nifty Gann Dates

Bank Nifty As per time analysis 29 Oct is Pressure date , impulsive move can be seen around these dates.

Bank Nifty Weekly

It was negative week, with the Bank Nifty down by 664points  closing @24421 .As discussed in last Analysis Coming week bank nifty bears need to break 24920 for a fall towards 24646/24500/24100. Bullish above 25225 for a move back to 25500/25784/25900. 23 Oct very important trend change date.

24500 Done not able to close above 25225. Now Bears need to break 24350 for a move towards24100/23920/ 23600. Bullish only above 24500 for a move 24650/24768/24920.

Bank Nifty Monthly

 

 

 

As discussed in last AnalysisFor Oct month 24900 will play crucial role.Any close below it can see downfall towards 24500/24100.24900 Gone and downfall towards 24500 done waiting for 24100

24353 done till now.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:24480

Bank Nifty Resistance:24650,24800,25000

Bank Nifty Support:24330,24200,24000

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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