Last Week we gave Chopad Level 22720 Bank Nifty gave long entry on Monday which did the 2 chopad target high made was 22979 and our target of 22980, Shorts on 18 were stopped out. Lets see how to trade bank nifty in coming week.
Bank Nifty Hourly
As discussed in last analysis 22700 will play crucial role close above it move towards 23111/23484. below 22600 move towards 22450/22100.
Coming week 22650 will play crucial role, close above it move towards 23111/23484. Bearish below 22600 move towards 22450/22222/22000.
Bank Nifty Harmonic Pattern
As discussed in last analysis now holding 22500 next upmove towards 23000/23318.
22977 done now bulls need to hold 22650 for a move till 23111.
Supply and Demand Analysis
22550-22494 imp Support zone for next round of upmove else 23111/23484 on cards.
bulls need to hold 22650 for a move till 23484/24000.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 22/26 May is Gann Turn date , except a impulsive around this dates.
Bank Nifty Weekly
It was Positive week, with the Bank Nifty up by 98 points closing @22770 closing above upper end of quadrant and closing above it as shown in above chart. Now for coming week bulls need to hold 22650-22700 range for the upmove towards 23111/23484. Bears below 22500 can push bank nifty to 22150/22000.Coming week is very crucial as we can see good trending move in bank nifty.
Bank Nifty Monthly
As discussed in last analysis Monthly chart needs to hold 21000, Bulls to continue have upperhand towards 22000 22000 done not bulls need to hold 21500 for a move towards 23110/24144.
22977 done so bulls did 23000 also, Now bulls needs to hold 22500 for next move towards 23400/24144.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:22820
Bank Nifty Resistance:22980,23110,23300
Bank Nifty Support:22650,22450,22300
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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Thanks for doing this for so long. Its really inspiring.