Last Weekly we gave Chopad level Bank Nifty 10626 and achieved 2 target upside.
Bank Nifty Hourly
Bank Nifty hourly charts is trading above its 200HSMA ,Closing above 10802 bounceback can be seen till 10900-11000.
Bank Nifty Daily
Bank Nifty on daily chart is near its gap resistance .Breakout comes above 10802 for target of 200 DMA.Unable to do so we can see pullback till 10400.
Fibonacci technique
Fibonacci fan
Bank Nifty Fibonacci fan is near its Fibo Fan support level as seen in above chart.
Fibo Retracement also signalling support @10256 and resistance at 10850.
Bank Nifty Weekly
Bank Nifty has bounced from its trendline support and now approaching a weekly breakout above 10802 ,which if broken is bullish in short term for target of 10900-11000. Breakdown below 10700 for target of 10500-10400 in short term.
Bank Nifty Monthly
Bank Nifty has risen 5% in feb series till date.We got close above 10400 on monthly basis and Bank Nifty has entered the Fibo Arc which will be bullish in short term.
Bank Nifty Trading Levels
Bank Nifty Trend Deciding Level:10756
Bank Nifty Resistance:10880,10972,11100
Bank Nifty Support:10626,10496,10366
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
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