Bank Nifty Weekly Forecast for 04-08 May

Last Week we gave Chopad Level of 19500 Bank Nifty opened with a gap up but did not break low of Monday and see the an EXCELLENT rally. Coming week we have important time cycle starting from 04 May which will be in effect till 30 June.

Bank Nifty Harmonic

Harmonic Pattern PRZ achieved,fall can be seen towards 20150/19653

Bank Nifty Gann Angles

Reacted from resistance zone going back towards 19666 zone.

Planetary Cycles and Bank Nifty Movements

Bulls will become active above 20510 for a move back to 20873,21328,21602,21870.Bears will get active below 20400 for a move towards 20140,19780,19416,19000.

Nifty Supply and Demand

Self Explanatory chart..

Nifty Time Analysis Pressure Dates

Nifty As per time analysis 04 May  is Pressure date , impulsive move can be seen around these dates.

Nifty Weekly Chart

Bulls will become active above 20510 for a move back to 20873,21328,21602,21870.Bears will get active below 20400 for a move towards 20140,19780,19416,19000.

 

Trading Monthly Charts

Nifty Bulls need to hold 20214-20250 for this a bounce towards 20874/21, Break of 20100 can see fall towards 18653/19000

Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:20444

Bank Nifty Resistance:20736,21025,21316,21609

Bank Nifty Support:20165,19881,19600,19321

 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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