Last Week we gave Chopad level of 12576 and Bank Nifty did all 3 target on upside.We have Inflation data coming tomorrow so bank nifty will be under traders radar. Lets analyze how to trade bank nifty coming week.
Bank Nifty Hourly
Bank Nifty hourly charts is sustaining above its 50 HSMA gives upperhand to Bulls.
Bank Nifty Daily
Bank Nifty on daily chart is near its resistance area.Breakout comes above 13100 for target of 13400 and new life high .Strong support at 12500.
Fibonacci technique
Fibonacci fan
Bank Nifty Fibonacci fan is near its Fibo Fan resistance level as seen in above chart.
Fibo Retracement also signalling bank nifty will march towards its all time high of 13400 once its able to close and sustain above 13000.
Bank Nifty Weekly
Bank Nifty Weekly chart is trading in the upper channel and suggests still more steam in left in rally once Bank nifty cross and sustains above 13100 on weekly basis we are heading towards a new life high .
Bank Nifty Monthly
Bank Nifty has risen 18.5% in March series,April month has showed a strong support near 12500.
Bank Nifty Trading Levels
Bank Nifty Trend Deciding Level:12851
Bank Nifty Resistance:12960,12836,12966
Bank Nifty Support:12706,12576 and 12446
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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