Bank Nifty Weekly Forecast ahead of Gujarat elections

Last Week we gave Chopad Level 25150  Bank Nifty gave Short Entry as per Chopad Level Monday did 1 target on Downside , Longs were also triggered on Friday  did 1 target on upside so average week Chopad followers. Lets see How to trade Bank Nifty in coming week as we approach the important time cycle date of 12 Dec.

 

 

Bank Nifty Harmonic Pattern

 

As discussed in Last analysis Fall can extend towards the levels mentioned in above chart.

Bulls did bounce back till 25377 and closing abvoe 25400 can see move towards higher end of PRZ zone at 26000.

 

Supply and Demand Analysis

 

Self Explanatory chart..

Gann Angles

As per gann angle Break of 25400 for a move towards higher end of gann angle at 25920.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 12/14 Dec is Turn date , impulsive move can be seen around these dates.

Bank Nifty Weekly

It was positive week, with the Bank Nifty up by 129 points  closing @25321 ,As discussed in Last analysis Coming week range of 24950-80 is important support zone holding the same we can see fast up move towards 25500/25800. Bearish below 24900 for a move towards 24476/24200.

Bank Nifty broken 24950  failed to do lower target, but as soon 24980 was broken bulls were on rampage and did high of 25367.  Coming week we have confluence of time cycle in between 12-14 Dec, so expect another volatile week on cards. Bulls need a close above 25400 for a move towards 25700/25920.  Bears will get active only below 25300 for a move towards 25050/24800.

Bank Nifty Monthly

As November was trend change month, Bullish bet only above 25920. Bearish below 24900 on Monthly close can see fast fall till 24238/23500.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:25400

Bank Nifty Resistance:25520,25700,25920

Bank Nifty Support:25220,25050,24800

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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