Bank Nifty continue the upmove,Weekly Analysis

Last Week we gave Chopad Level 15360 Bank Nifty gave Short on Monday and did 1 target on downside, Longs taken on Wednesday did 2 target on Upside by Friday. Lets analyze how to trade Bank Nifty in coming Week as we have 2 trading Holidays.

Bank Nifty Hourly

 

As discussed last week Till Holding above 21/34 EMA bulls are in control for a rise till channel top near 15700/15800

High made 15704 and Low made was 15178 near the 34 EMA, Coming week we are entering a new channel high at 16056 Low at 15350 so these 2 levels needs to be seen.

Bank Nifty Harmonic

As discussed last week  Closing above 15350 Butterfly pattern will be active for target of 15555/15732

15704 almost done. Now closing above 15732 can see 15912.

Gann Angles

Now need a close above 15700 for 15900/16050

Bank Nifty Supply and Demand

Close above 15682 is required for move towards 16188.

Bank Nifty Gann Dates

Bank Nifty As per time analysis  21/23 March is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 486 points  closing @15654 closed above its middle line of AF .  Bank nifty needs to hold 15350 on weekly basis for next move till 15900/16152. Else will see correction till 15000.

Bank Nifty Monthly

Monthly chart  took support at 78.6 %,and bounced furiously.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:15710

Bank Nifty Resistance:15850,16000,16200

Bank Nifty Support:15550,15350,15150

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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