Bank Nifty Weekly Forecast for 21-24 Aug

Last Week we gave Chopad Level 24100 Bank Nifty gave Long/Short  Entry on Monday got 1 target on downside and long did 2 target on upside,so good week for Chopad followers.Lets see How to trade Bank Nifty in coming week.We have trading holiday on 25 Aug

 

Bank Nifty Hourly

 

Bank Nifty bulls need to trade above 24100 for uptrend to continue till 24300/24500. Bearish below 2400o for a move towards 23800/23500.

 

Bank Nifty Harmonic Pattern

 

If Bank Nifty hold 23800 for 1 week we can see fast move towards 25000, Previous week ABCD pattern also hold till 23800 holds

 

Supply and Demand Analysis

 

Self Explanatory chart..

Gann Angles

Bank nifty corrected from gann angle resistance as shown in above chart and now gann angle support at 23800. Lets see in coming week it holds gann angle, else fall can be seen till 23000.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 21/22/25 Aug is Gann Turn date , except a impulsive around this dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 88 points  closing @24074 closing below  the AF line, Bulls need a close above 24100 for a move towards 24500. Bearish below 24000 for a move towards 23755/23540/23255/23000.

Next Week is very crucial as several time cycle data are coming and also the existing time cycle of 07 Aug-24 Aug is coming to an end.

 

Bank Nifty Monthly

Now bears need close below 24000 for next move towards 23500/23000. Bullish above 24300 for a move towards 25000.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:24100

Bank Nifty Resistance:24170,24372,24532

Bank Nifty Support:23970,23820,23600

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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