Bank Nifty Weekly Forecast for 24-28 Dec

Last Week we gave Chopad level of 26500 Bank Nifty made low of 26840 so no trade for Chopad Followers. Lets see how we trade Nifty in coming week as we approach time cycle date of 24/29 Dec.

 Bank Nifty Harmonic Pattern

No Valid Pattern formed. Last week pattern got stopped out beloe 26920

Supply and Demand Analysis

Self Explanatory chart.

Planetary Cycles and Bank Nifty Movements

Bullish above 26920 for a move towards 27000/27220/ 27340/27532  Bearish below 26800 for a move back to 26666/26500/26225

Gann Angles

Took Resistance at higher end of gann angle, Breakout above 2700 Breakdown below 26500.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 24 Nov is Pressure date , impulsive move can be seen around these dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 43 points  closing @26869 .As discussed in last analysis Bullish above 26920 for a move towards 27000/27220/ 27340/27532  Bearish below 26500 for a move back to 26250/26000/25920/25784.

27340 done.Coming week Bulls need to trade above 26920 for a move towards 27081/27225/27360. Bearish below 26800 for a move back to 26666/26500/26224

Bank Nifty Monthly

For December Month Bank Nifty Bulls need a close above 27000 for Bulls to continue the rally towards 280000. Bearish below 26500 for a move back to 26000/25500 for Dec month.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:26800

Bank Nifty  Resistance:26920,27200,27318

Bank Nifty Support:26600,26450,26250

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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