Bank Nifty Weekly Forecast as Corona Cases cross 7 Lakh

Bank Nifty is now in bear market, Last bear market of 2008 we were down 70%, Current crises are combination of Health and Financial and number of Corna cases have crossed 7 lakh worldwide and its still not peaked out suggesting more pain to come. Bank Nifty PE has come down to 21 it can go in 8-9 range as in 2008. Bear Market rallies are fast and furious as we have seen last week trade with extreme caution limited quantity with proper risk and money management. We have trading holiday on 01 April in coming week

Bank Nifty Harmonic

No Valid Harmonic Pattern Formed

Bank Nifty Gann Angles

Resistance at 2100-21500 range

Planetary Cycles and Bank Nifty Movements

Bulls will become active above 19400 for a move back to 19800/20500/21000/21500.Bears will get active below 19050 for a move towards 18600/18100/17600/17250

Nifty Supply and Demand

Self Explanatory chart..

Nifty Time Analysis Pressure Dates

Nifty As per time analysis 30 March  is Pressure date , impulsive move can be seen around these dates.

Nifty Weekly Chart

Bulls will become active above 19400 for a move back to 19800/20500/21000/21500.Bears will get active below 19050 for a move towards 18600/18100/17600/17250

Trading Monthly Charts

Nifty Bulls need to hold 19300-19400 for this bounce in last week to last else we will move back to 18500-18000 range

Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:19350

Bank Nifty Resistance :19800,20400,20900,21300

Bank Nifty Support :18900,18500,18200,17820

 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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