Last Week we gave Chopad Level 16200 Bank Nifty gave Short Entry on Monday as close below chopad level of 16200 and did all 3 target on downside by Thuesday, Lets analyze how to trade Bank Nifty in coming Week as we have only 3 trading days as 14 and 15 are trading Holidays.
Bank Nifty Hourly
As discussed last week Now for coming week 16350 needs to be watched as its channel top, crossing the same we are heading towards 16500/16900, else we will go down till 16000.
Turned from channel resistance and did 16000. Now for coming week break of 15450 will see bank nifty going to 15250/15000 levels. Holding 15450 can lead to fast move tilll 15700/16000
Bank Nifty Harmonic
As discussed last week As per CRAB pattern of 16300/16350 is not crossed we can correct all the way till 16000/15550.
Low made was exactly 15457 as discussed last week.
15450 will play a crucial role in coming week, break of same we can see 15300-15266 as per CYPHER pattern.
Gann Angles
As per gann angle need to close above 15800 for move towards 16200/16500. Unable to cross that can see 15300/15000 levels.
Bank Nifty Supply and Demand
Closed below 16188 last week and saw the big decline.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 11 April is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 606 points closing @15568 closed above its middle line of AF for 3 week. As we have been discussing This analysis still holds true Bank nifty needs to close above 16000 on weekly basis for next move till 16800. Else will see correction till 15500-15300.
15500 done. Now For coming week traders needs to watch 15450 levels as per GANN Methodology,Holding above it bank nifty can move towards 15768/16000.
Below 15450 we can visit 15300/15000.
Bank Nifty Monthly
Monthly chart will take support of 61.8 %,and resistance 50% as shown above.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:15600
Bank Nifty Resistance:15760,15900,16080
Bank Nifty Support:15450,15250,15000
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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